Northern Trust Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Northern Trust Corp (NASDAQ:NTRS) will unveil its latest earnings on Wednesday, October 19, 2011. Northern Trust is a financial holding company that provides investment management, asset and fund administration, and banking solutions for corporations, institutions, and affluent individuals.

Northern Trust Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 70 cents per share, a rise of 9.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 68 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 70 cents during the last month. Analysts are projecting profit to rise by 0% versus last year to $2.65.

Past Earnings Performance: Last quarter, the company topped expectations by one cent, coming in at net income of 70 cents per share versus a mean estimate of profit of 69 cents per share. This followed two straight quarters of missing estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 7% in revenue from the year-earlier quarter to $961.8 million.

Analyst Ratings: Analysts seem relatively indifferent about Northern with 13 of 17 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 23.8% to $152 million (62 cents a share) from $199.6 million (82 cents a share) the year earlier, but exceeded analyst expectations. Revenue rose 0.9% to $1.06 billion from $1.05 billion.

Key Stats:

The company’s revenue has risen for two straight quarters. In the first quarter, the figure rose 2.9%.

Competitors to Watch: State Street Corporation (NYSE:STT), The Bank of New York Mellon Corp. (NYSE:BK), SEI Investments Company (NASDAQ:SEIC), Washington Federal Inc. (NASDAQ:WFSL), Bank of America Corp. (NYSE:BAC), Wells Fargo & Company (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Capital One Financial Corp. (NYSE:COF), Marshall & Ilsley Corp. (NYSE:MI), Bank Mutual Corporation (NASDAQ:BKMU), New York Community Bancorp, Inc. (NYSE:NYB), Flagstar Bancorp, Inc. (NYSE:FBC), and People’s United Financial, Inc. (NASDAQ:PBCT).

Stock Price Performance: During July 20, 2011 to October 13, 2011, the stock price had fallen $7 (-16%) from $43.85 to $36.85. The stock price saw one of its best stretches over the last year between December 7, 2010 and December 14, 2010 when shares rose for six-straight days, rising 4.4% (+$2.23) over that span. It saw one of its worst periods between September 15, 2011 and September 22, 2011 when shares fell for six-straight days, falling 8.5% (-$3.16) over that span. Shares are down $17.50 (-32.2%) year to date.

(Source: Xignite Financials)

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