Broadridge Financial Solutions, Inc. (BR) Expected to Post Earnings of $0.40 Per Share
Equities research analysts forecast that Broadridge Financial Solutions, Inc. (NYSE:BR) will post earnings of $0.40 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Broadridge Financial Solutions’ earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.38. Broadridge Financial Solutions posted earnings per share of $0.36 in the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year earnings of $3.65 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.70. For the next financial year, analysts forecast that the company will post earnings of $3.98 per share, with EPS estimates ranging from $3.92 to $4.03. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period last year, the firm earned $1.45 EPS.
Several analysts recently weighed in on the stock. BidaskClub downgraded shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They issued a “neutral” rating and a $74.00 price objective on the stock. Finally, Barclays PLC lifted their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.00.
Broadridge Financial Solutions (NYSE BR) traded down 0.03% during midday trading on Friday, hitting $76.76. The stock had a trading volume of 336,010 shares. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 28.43 and a beta of 0.99. The stock has a 50 day moving average of $75.62 and a 200 day moving average of $72.15. Broadridge Financial Solutions has a 12 month low of $59.86 and a 12 month high of $78.00.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. Broadridge Financial Solutions’s payout ratio is 48.35%.
In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now directly owns 39,747 shares in the company, valued at approximately $3,043,825.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the sale, the insider now owns 20,646 shares in the company, valued at $1,588,916.16. The disclosure for this sale can be found here. Insiders have sold a total of 102,347 shares of company stock worth $7,798,503 over the last 90 days. 3.50% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in Broadridge Financial Solutions during the second quarter worth approximately $108,000. Toronto Dominion Bank increased its stake in Broadridge Financial Solutions by 11.4% in the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after buying an additional 149 shares during the period. Global X Management Co. LLC increased its stake in Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after buying an additional 120 shares during the period. Advisory Services Network LLC increased its stake in Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after buying an additional 706 shares during the period. Finally, Commonwealth Bank of Australia increased its stake in Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after buying an additional 600 shares during the period. Institutional investors own 84.27% of the company’s stock.
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.
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