Broadridge Financial Solutions Short Interest Down 48.4% in May (BR)
Broadridge Financial Solutions (NYSE:BR) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 965,566 shares, a drop of 48.4% from the April 30th total of 1,871,892 shares, Stock Ratings News reports. Based on an average daily volume of 538,722 shares, the short-interest ratio is presently 1.8 days. Approximately 0.8% of the shares of the stock are short sold.
In other Broadridge Financial Solutions news, VP Robert Schifellite unloaded 23,875 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $41.87, for a total transaction of $999,646.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on BR. Analysts at Credit Suisse raised their price target on shares of Broadridge Financial Solutions from $39.00 to $40.00 in a research note on Wednesday, May 14th. They now have a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $39.00 to $41.00 in a research note on Tuesday, May 13th. They now have a “neutral” rating on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $40.62.
Broadridge Financial Solutions (NYSE:BR) opened at 41.21 on Thursday. Broadridge Financial Solutions has a 52-week low of $25.65 and a 52-week high of $42.32. The stock has a 50-day moving average of $39.46 and a 200-day moving average of $38.17. The company has a market cap of $4.973 billion and a P/E ratio of 19.91.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results 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 $2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.04%. The ex-dividend date 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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