Northern Trust Corporation (NASDAQ:NTRS) asset management services provider, is reporting third quarter earnings results on Wednesday 21st October 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 1.38 per share.
For the full year, analysts predict revenues of $ 6065.93 million, while looking forward to income of $ 5.82 per share.
Previous Quarter Performance
Northern Trust Corporation unwinded income for the second quarter of $ 1.46 per share, from the revenue of $ 1,506.00 million. The quarterly earnings decreased 16.57 percent while revenues contracted 0.04 percent compared with the same quarter last year.
According to street consensus, NTRS was expected to report 2Q20 income of $ 1.37 per share from revenue of $ 1485.83 million. The bottom line results beat street analysts by $ 0.09 or 6.57 percent, at the same time, top line results outshined analysts by $ 20.17 million or 1.36 percent.
Stock Performance
Shares of Northern Trust Corporation traded up $ 0.35 or 0.41 percent on Tuesday, reaching $ 85.76 with volume of 781.40 thousand shares. Northern Trust Corporation has traded high as $ 87.33 and has cracked $ 85.49 on the downward trend
The closing price of $ 85.76, representing a 40.78 % increase from the 52 week low of $ 60.67 and a 22.69 % decrease over the 52 week high of $ 110.48.
The company has a market capital of $ 17.85 billion and is part of the Financial Services sector and Asset Management industry.
Recent Analyst recommendations
- On 5th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 90.00 target price.
- On 1st September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 92.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.70 per share on July 21, 2020. The dividend were payable on October 1, 2020 to holders of record as of the close of business on September 11, 2020 and ex-dividend date on September 10, 2020.
Conference Call
Northern Trust Corporation will be hosting a conference call at 10:00 AM eastern time on 21st October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.northerntrust.com
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management. The C&IS segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.
