Q2 2018 EPS Estimates for Broadridge Financial Solutions, Inc. Raised by DA Davidson (BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) – Investment analysts at DA Davidson upped their Q2 2018 EPS estimates for shares of Broadridge Financial Solutions in a note issued to investors on Wednesday. DA Davidson analyst P. Heckmann now expects that the business services provider will post earnings of $0.64 per share for the quarter, up from their previous estimate of $0.51. DA Davidson has a “Hold” rating and a $86.00 price objective on the stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ FY2018 earnings at $3.74 EPS, Q1 2019 earnings at $0.55 EPS, Q2 2019 earnings at $0.58 EPS and FY2019 earnings at $4.04 EPS.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.12. The business had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share.

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Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Barclays PLC upped their price objective on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday.

Shares of Broadridge Financial Solutions (NYSE:BR) opened at $88.45 on Friday. The firm has a market cap of $10,309.02, a PE ratio of 26.56, a P/E/G ratio of 2.38 and a beta of 0.99. Broadridge Financial Solutions has a 52 week low of $60.25 and a 52 week high of $91.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.33.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN raised its holdings in Broadridge Financial Solutions by 0.6% in the third quarter. Wells Fargo & Company MN now owns 1,161,491 shares of the business services provider’s stock worth $93,872,000 after purchasing an additional 7,286 shares during the period. Dai Ichi Life Insurance Company Ltd acquired a new stake in Broadridge Financial Solutions in the third quarter worth $229,000. Achmea Investment Management B.V. bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth $257,000. JPMorgan Chase & Co. increased its position in shares of Broadridge Financial Solutions by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock worth $40,590,000 after acquiring an additional 71,106 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Broadridge Financial Solutions by 3.9% during the third quarter. Legal & General Group Plc now owns 730,628 shares of the business services provider’s stock worth $59,050,000 after acquiring an additional 27,302 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

In related news, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the transaction, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard J. Daly sold 94,039 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The disclosure for this sale can be found here. Insiders sold 119,720 shares of company stock worth $9,679,916 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

Earnings History and Estimates for Broadridge Financial Solutions (NYSE:BR)

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