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Northern Trust Prepares for Q3 Earnings Report as Analysts Expect 11.5% Revenue Growth

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NTRS$164.46 −0.65%

Northern Trust Corporation (NASDAQ:NTRS) is scheduled to release its third-quarter financial results on Wednesday morning. Analysts expect the financial services company to generate revenue growth of 11.5% compared to the same quarter last year, reflecting an acceleration from the 5.8% annual increase recorded a year ago. Analysts have generally kept their revenue forecasts steady over the past month.

The upcoming report follows a strong second quarter, when the firm posted $2.25 billion in revenue, up 12.6% year over year, while topping expectations for assets under management and earnings. Results from industry peers offer a mixed outlook for the sector. The Bank of New York Mellon delivered 12% revenue growth to beat expectations, sending its stock up 4.1%, whereas State Street reported 12.9% growth but missed expectations, causing its shares to fall 3.7%.

Shares of Northern Trust traded down 0.65% to $164.50. Capital markets stocks have faced headwinds recently, with the segment down an average of 3.9% over the past month while Northern Trust dropped 8.1%. Analysts maintain an average price target of $181.71 for the company heading into the announcement.

Key points

  • Wall Street expects Northern Trust to report 11.5% year-over-year revenue growth for the third quarter.
  • In the previous quarter, the company generated $2.25 billion in revenue, up 12.6% year over year, beating expectations.
  • Industry peer BNY saw its stock rise 4.1% after topping estimates, while State Street fell 3.7% following a revenue miss.
  • Northern Trust stock is down 8.1% over the past month, trading near $164.50 against an average analyst price target of $181.71.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When does Northern Trust report its third-quarter earnings?

Northern Trust is scheduled to report its Q3 earnings on Wednesday morning.

What are analysts expecting for Northern Trust's Q3 revenue?

Analysts expect Northern Trust's third-quarter revenue to grow 11.5% year over year, compared to the 5.8% growth recorded in the same period last year.

What is the target price for Northern Trust stock heading into earnings?

Analysts have an average price target of $181.71 for Northern Trust, compared to its recent trading price of $164.50.