Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q3 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:
In–Line Earnings
Northern Trust came out with earnings per share of $1.08, in line with the Zacks Consensus Estimate.
A rise in revenues was primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Northern Trust depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
Moreover, Northern Trust has a decent earnings surprise history. Before posting in-line earnings in Q3, the company delivered positive surprises in three of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.76% in the trailing four quarters.
Revenue Came In Lower Than Expected
Northern Trust posted revenues of $1.21 billion, which lagged the Zacks Consensus Estimate of $1.24 billion. Moreover, it compared favorably with the year-ago number of $1.16 billion.
Key Stats to Note:
- Total revenue rose 5% year over year
- Total assets under custody jumped 13% year over year
- Total assets under management increased 7%.
- Return on average common equity was 11.7%
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 favorable, 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!
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Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q3 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:
In–Line Earnings
Northern Trust came out with earnings per share of $1.08, in line with the Zacks Consensus Estimate.
A rise in revenues was primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Northern Trust depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
Moreover, Northern Trust has a decent earnings surprise history. Before posting in-line earnings in Q3, the company delivered positive surprises in three of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.76% in the trailing four quarters.
Revenue Came In Lower Than Expected
Northern Trust posted revenues of $1.21 billion, which lagged the Zacks Consensus Estimate of $1.24 billion. Moreover, 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 favorable, 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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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