Broadridge Financial Solutions, Inc. (NYSE:BR) Expected to Post Quarterly Sales of $1.28 Billion


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Wall Street analysts predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will post $1.28 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Broadridge Financial Solutions’ earnings, with estimates ranging from $1.26 billion to $1.31 billion. Broadridge Financial Solutions reported sales of $1.25 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The business is scheduled to report its next earnings results on Friday, May 14th.

On average, analysts expect that Broadridge Financial Solutions will report full year sales of $4.74 billion for the current financial year, with estimates ranging from $4.71 billion to $4.78 billion. For the next fiscal year, analysts expect that the business will post sales of $4.99 billion, with estimates ranging from $4.89 billion to $5.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Broadridge Financial Solutions.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Monday, February 1st. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Broadridge Financial Solutions had a net margin of 10.27% and a return on equity of 48.98%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year.

Several research firms have commented on BR. Truist initiated coverage on shares of Broadridge Financial Solutions in a research report on Friday, December 18th. They issued a “buy” rating and a $175.00 target price for the company. Raymond James upped their price target on shares of Broadridge Financial Solutions from $155.00 to $157.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. Finally, BTIG Research raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $176.00 price objective on the stock in a research note on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Broadridge Financial Solutions currently has an average rating of “Buy” and a consensus target price of $154.17.

BR stock traded down $2.71 during trading on Thursday, hitting $144.79. 8,604 shares of the company’s stock traded hands, compared to its average volume of 653,965. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 35.80 and a beta of 0.83. Broadridge Financial Solutions has a 52 week low of $81.90 and a 52 week high of $158.36. The stock has a fifty day moving average price of $149.00 and a two-hundred day moving average price of $143.64. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 2nd. Investors of record on Monday, March 15th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $2.30 annualized dividend and a dividend yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio is 45.73%.

In related news, President Christopher John Perry sold 24,790 shares of Broadridge Financial Solutions stock in a transaction on Friday, December 18th. The shares were sold at an average price of $152.12, for a total value of $3,771,054.80. Following the completion of the sale, the president now owns 80,260 shares of the company’s stock, valued at approximately $12,209,151.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,699 shares of the company’s stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $144.83, for a total transaction of $535,726.17. Following the completion of the sale, the director now owns 34,266 shares of the company’s stock, valued at $4,962,744.78. The disclosure for this sale can be found here. Insiders sold 49,425 shares of company stock worth $7,415,568 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadridge Financial Solutions by 32.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,492,464 shares of the business services provider’s stock worth $688,211,000 after acquiring an additional 1,105,360 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Broadridge Financial Solutions by 615.1% during the third quarter. Great West Life Assurance Co. Can now owns 1,068,026 shares of the business services provider’s stock worth $29,095,000 after purchasing an additional 918,680 shares during the period. Wells Fargo & Company MN grew its holdings in Broadridge Financial Solutions by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,613,592 shares of the business services provider’s stock valued at $247,202,000 after purchasing an additional 234,755 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $27,478,000. Finally, Morgan Stanley boosted its holdings in shares of Broadridge Financial Solutions by 59.5% during the 4th quarter. Morgan Stanley now owns 467,483 shares of the business services provider’s stock worth $71,619,000 after buying an additional 174,325 shares during the period. 85.03% of the stock is owned by institutional investors.

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

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