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Northern Trust (NTRS) Misses Q4 Earnings, Expenses Up
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Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this IL-based popular bank’s earnings release this morning:
Earnings Lagged Estimates
Northern Trust came out with earnings per share of $1.11, lagging the Zacks Consensus Estimate of $1.14.
Rise in expenses primarily led to this earnings miss.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Northern Trust depicted optimism prior to the earnings release. The Zacks Consensus Estimate increased nearly 1% over the last 7 days.
Moreover, Northern Trust has a decent earnings surprise history. Before posting lower-than-expected earnings in Q4, the company delivered positive surprises in three of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 4.02% in the trailing four quarters.
Northern Trust posted revenues of $1.24 billion, which lagged the Zacks Consensus Estimate of $1.26 billion. However, it compared favorably with the year-ago number of $1.16 billion.
Key Stats to Note:
Total assets under custody jumped 11% year over year.
Total assets under management increased 8%.
Return on average common equity was 11.9%.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Northern Trust. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Northern Trust earnings report!
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Northern Trust (NTRS) Misses Q4 Earnings, Expenses Up
Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this IL-based popular bank’s earnings release this morning:
Earnings Lagged Estimates
Northern Trust came out with earnings per share of $1.11, lagging the Zacks Consensus Estimate of $1.14.
Rise in expenses primarily led to this earnings miss.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Northern Trust depicted optimism prior to the earnings release. The Zacks Consensus Estimate increased nearly 1% over the last 7 days.
Moreover, Northern Trust has a decent earnings surprise history. Before posting lower-than-expected earnings in Q4, the company delivered positive surprises in three of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 4.02% in the trailing four quarters.
Northern Trust Corp. Price and EPS Surprise
Northern Trust Corp. Price and EPS Surprise | Northern Trust Corp. Quote
Revenue Came In Lower Than Expected
Northern Trust posted revenues of $1.24 billion, which lagged the Zacks Consensus Estimate of $1.26 billion. However, it compared favorably with the year-ago number of $1.16 billion.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Northern Trust. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Northern Trust earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>