JPMorgan Chase & Co. Reiterates Neutral Rating for Broadridge Financial Solutions (BR)
Broadridge Financial Solutions (NYSE:BR)‘s stock had its “neutral” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday, American Banking and Market News reports. They currently have a $41.00 price target on the stock, up from their previous price target of $39.00. JPMorgan Chase & Co.’s price objective suggests a potential upside of 5.29% from the stock’s previous close.
Shares of Broadridge Financial Solutions (NYSE:BR) traded up 1.21% on Tuesday, hitting $39.41. 434,338 shares of the company’s stock traded hands. Broadridge Financial Solutions has a 52 week low of $25.65 and a 52 week high of $40.36. The stock has a 50-day moving average of $37.26 and a 200-day moving average of $37.47. The company has a market cap of $4.725 billion and a P/E ratio of 18.81.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.37 earnings per share. Broadridge Financial Solutions’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions will post $2.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Investors 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 2.16%. The ex-dividend date of this dividend is Thursday, June 12th.
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.
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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