Analysts expect that Broadridge Financial Solutions, Inc. (NYSE:BR) will report earnings of $0.73 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Broadridge Financial Solutions’ earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.78. Broadridge Financial Solutions reported earnings per share of $0.79 in the same quarter last year, which indicates a negative year over year growth rate of 7.6%. The company is expected to announce its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year earnings of $5.13 per share for the current year, with EPS estimates ranging from $5.10 to $5.18. For the next fiscal year, analysts forecast that the firm will report earnings of $5.62 per share, with EPS estimates ranging from $5.52 to $5.73. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.72. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Broadridge Financial Solutions had a net margin of 11.05% and a return on equity of 46.61%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Friday, May 10th. Raymond James lowered shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. SunTrust Banks increased their target price on shares of Broadridge Financial Solutions from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. DA Davidson lowered shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $129.20.
BR traded up $1.55 during mid-day trading on Friday, hitting $128.22. The stock had a trading volume of 534,000 shares, compared to its average volume of 700,691. The stock’s fifty day simple moving average is $130.19 and its 200-day simple moving average is $116.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.72. Broadridge Financial Solutions has a 1-year low of $91.34 and a 1-year high of $138.24.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 41.63%.
In related news, insider Timothy C. Gokey sold 37,737 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $126.48, for a total transaction of $4,772,975.76. Following the sale, the insider now directly owns 110,349 shares in the company, valued at $13,956,941.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie A. Brun sold 7,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $121.71, for a total transaction of $912,825.00. Following the sale, the director now owns 30,101 shares in the company, valued at $3,663,592.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,452 shares of company stock worth $29,731,399. 2.30% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Harvest Group Wealth Management LLC grew its position in Broadridge Financial Solutions by 183.3% in the second quarter. Harvest Group Wealth Management LLC now owns 221 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 143 shares in the last quarter. Roble Belko & Company Inc bought a new position in Broadridge Financial Solutions in the first quarter valued at $30,000. Icon Wealth Partners LLC bought a new position in Broadridge Financial Solutions in the first quarter valued at $39,000. Financial Gravity Wealth Inc. bought a new position in Broadridge Financial Solutions in the first quarter valued at $41,000. Finally, CSat Investment Advisory L.P. grew its position in Broadridge Financial Solutions by 35.9% in the second quarter. CSat Investment Advisory L.P. now owns 348 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.
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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