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Northern Trust (NTRS) Q2 Earnings Miss on High Expenses
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Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q2 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:
An Earnings Miss
Northern Trust came out with adjusted earnings per share of $1.18, missing the Zacks Consensus Estimate of $1.24. A rise in expenses and lower non-interest income were primarily responsible for this earnings miss.
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 earnings miss in Q2, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.05% in the trailing four quarters.
Northern Trust posted revenues of $1.33 billion, which was in line with the Zacks Consensus Estimate. Moreover, it compared favorably with the year-ago number of $1.32 billion.
Key Stats to Note:
Total assets under custody jumped 16% year over year.
Total assets under management increased 14%.
Return on average common equity was 11.6%.
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) Q2 Earnings Miss on High Expenses
Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q2 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:
An Earnings Miss
Northern Trust came out with adjusted earnings per share of $1.18, missing the Zacks Consensus Estimate of $1.24. A rise in expenses and lower non-interest income were primarily responsible for this earnings miss.
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 earnings miss in Q2, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.05% in the trailing four quarters.
Northern Trust Corporation Price and EPS Surprise
Northern Trust Corporation Price and EPS Surprise | Northern Trust Corporation Quote
Revenue Came In As Expected
Northern Trust posted revenues of $1.33 billion, which was in line with the Zacks Consensus Estimate. Moreover, it compared favorably with the year-ago number of $1.32 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!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>