Broadridge Financial Solutions, Inc. (BR) Issues FY18 Earnings Guidance
Broadridge Financial Solutions, Inc. (NYSE:BR) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $3.60-3.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.58. The company issued revenue guidance of $4.23-4.27 billion, compared to the consensus revenue estimate of $4.33 billion.
Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) opened at 74.65 on Thursday. The firm has a 50-day moving average of $75.52 and a 200-day moving average of $71.42. The stock has a market cap of $8.78 billion, a P/E ratio of 29.24 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52-week low of $59.86 and a 52-week high of $78.00.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.01. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a net margin of 8.21% and a return on equity of 34.74%. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post $3.12 EPS for the current fiscal year.
A number of brokerages have recently commented on BR. BidaskClub raised shares of Broadridge Financial Solutions from a buy rating to a strong-buy rating in a research report on Wednesday, June 28th. DA Davidson began coverage on shares of Broadridge Financial Solutions in a research report on Monday. They issued a neutral rating and a $74.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Broadridge Financial Solutions presently has a consensus rating of Hold and an average target price of $74.75.
In other news, insider Robert Schifellite sold 76,666 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total value of $5,825,082.68. Following the sale, the insider now owns 105,042 shares of the company’s stock, valued at $7,981,091.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Laura Matlin sold 630 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $71.89, for a total transaction of $45,290.70. Following the completion of the sale, the vice president now directly owns 5,271 shares in the company, valued at approximately $378,932.19. The disclosure for this sale can be found here. In the last three months, insiders sold 323,032 shares of company stock worth $24,016,648. 3.50% of the stock is currently owned by 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.
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