Broadridge Financial Solutions (NYSE:BR) posted its earnings results on Thursday. The business services provider reported $1.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.72, Morningstar.com reports. Broadridge Financial Solutions had a return on equity of 48.71% and a net margin of 11.31%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $1.86 EPS. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Broadridge Financial Solutions updated its FY 2020 guidance to $5.03-5.22 EPS.
BR stock traded down $0.74 during trading on Friday, hitting $127.73. The stock had a trading volume of 752,883 shares, compared to its average volume of 512,643. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.70. Broadridge Financial Solutions has a twelve month low of $91.34 and a twelve month high of $138.24. The stock has a market cap of $14.76 billion, a PE ratio of 26.48, a P/E/G ratio of 2.49 and a beta of 0.72. The business’s 50-day moving average price is $131.29.
In related news, VP Laura Matlin sold 3,875 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $118.99, for a total value of $461,086.25. Following the sale, the vice president now directly owns 5,988 shares in the company, valued at approximately $712,512.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert Schifellite sold 37,818 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $122.77, for a total value of $4,642,915.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,149 shares of company stock worth $23,659,712. 2.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harvest Group Wealth Management LLC lifted its stake in Broadridge Financial Solutions by 183.3% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 221 shares of the business services provider’s stock worth $28,000 after purchasing an additional 143 shares in the last quarter. Roble Belko & Company Inc purchased a new position in Broadridge Financial Solutions in the 1st quarter worth approximately $30,000. Pinnacle Bank purchased a new position in Broadridge Financial Solutions in the 4th quarter worth approximately $34,000. Icon Wealth Partners LLC purchased a new position in Broadridge Financial Solutions in the 1st quarter worth approximately $39,000. Finally, Financial Gravity Wealth Inc. purchased a new position in Broadridge Financial Solutions in the 1st quarter worth approximately $41,000. 84.83% of the stock is currently owned by institutional investors and hedge funds.
BR has been the topic of a number of analyst reports. SunTrust Banks raised their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. ValuEngine cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. DA Davidson cut Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price objective on the stock. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Raymond James cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Friday, May 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $129.33.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.
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