Asset manager Northern Trust Corporation ( NTRS
) on Wednesday posted disappointing third quarter earnings results,
as a 5% gain in profit wasn't enough to meet Wall Street's
The Chicago-based company reported third quarter net income of
$178.8 million, or 73 cents per share, compared with $170.4
million, or 70 cents per share, in the year-ago period.
Revenue rose ever so slightly from last year to $972.5
On average, Wall Street analysts expected a slightly higher
profit of 74 cents per share, on larger revenue of $987.5
Northern Trust shares were mostly flat in premarket trading
The Bottom Line
Shares of Northern Trust ( NTRS ) have a 2.52%
dividend yield, based on last night's closing stock price of
$47.53. The stock has technical support in the $42-$44 price area.
If the shares can firm up, we see overhead resistance around the
$49-$50 price levels.
Northern Trust Corporation ( NTRS ) is not
recommended at this time, holding a Dividend.com DARS™ Rating of
3.3 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .
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