Broadridge Financial Solutions Sees Strong Trading Volume Following Analyst Upgrade (BR)
Broadridge Financial Solutions (NYSE:BR) shares saw an uptick in trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $39.00 to $41.00, Analyst Ratings.Net reports. JPMorgan Chase & Co. currently has a neutral rating on the stock. 1,173,745 shares were traded during trading, an increase of 136% from the previous session’s volume of 497,539 shares.The stock last traded at $39.78 and had previously closed at $38.94.
Separately, analysts at Zacks downgraded shares of Broadridge Financial Solutions from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 8th. They now have a $43.10 price target on the stock.
The stock’s 50-day moving average is $37.26 and its 200-day moving average is $37.47. The company has a market cap of $4.770 billion and a price-to-earnings ratio of 18.81.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $593.31 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Broadridge Financial Solutions will post $2.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, June 12th.
Broadridge Financial Solutions, Inc (NYSE:BR) is a global provider of investor communications and technology-driven solutions to banks/broker-dealers, mutual funds and corporate issuers.
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