Broadridge Financial Solutions, Inc. (BR) Expected to Post Earnings of $1.68 Per Share
Equities research analysts predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will post $1.68 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Broadridge Financial Solutions’ earnings. The lowest EPS estimate is $1.66 and the highest is $1.70. Broadridge Financial Solutions posted earnings per share of $1.45 in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The business is expected to issue its next quarterly earnings report on Tuesday, August 8th.
On average, analysts expect that Broadridge Financial Solutions will report full year earnings of $3.12 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.13. For the next financial year, analysts anticipate that the company will report earnings of $3.49 per share, with EPS estimates ranging from $3.47 to $3.50. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 10th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $997.65 million. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The business’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share.
A number of research analysts have commented on BR shares. BidaskClub raised Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $75.00.
In other news, VP Laura Matlin sold 630 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $71.89, for a total value of $45,290.70. Following the sale, the vice president now directly owns 5,271 shares of the company’s stock, valued at $378,932.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schifellite sold 76,666 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total value of $5,825,082.68. Following the completion of the sale, the insider now directly owns 105,042 shares in the company, valued at $7,981,091.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,032 shares of company stock worth $24,016,648. Company insiders own 3.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of BR. BKD Wealth Advisors LLC increased its position in shares of Broadridge Financial Solutions by 15.5% in the first quarter. BKD Wealth Advisors LLC now owns 4,411 shares of the business services provider’s stock worth $300,000 after buying an additional 592 shares during the last quarter. Capstone Asset Management Co. increased its position in Broadridge Financial Solutions by 2.0% in the first quarter. Capstone Asset Management Co. now owns 13,075 shares of the business services provider’s stock valued at $888,000 after buying an additional 260 shares during the last quarter. First National Bank of Omaha increased its position in Broadridge Financial Solutions by 99.8% in the first quarter. First National Bank of Omaha now owns 155,074 shares of the business services provider’s stock valued at $8,830,000 after buying an additional 77,461 shares during the last quarter. Bank of Montreal Can increased its position in Broadridge Financial Solutions by 5.2% in the first quarter. Bank of Montreal Can now owns 28,320 shares of the business services provider’s stock valued at $1,923,000 after buying an additional 1,397 shares during the last quarter. Finally, Pennsylvania Trust Co increased its position in Broadridge Financial Solutions by 0.4% in the first quarter. Pennsylvania Trust Co now owns 122,137 shares of the business services provider’s stock valued at $8,299,000 after buying an additional 479 shares during the last quarter. 85.23% of the stock is owned by institutional investors.
Shares of Broadridge Financial Solutions (NYSE BR) traded up 1.23% during trading on Wednesday, hitting $75.53. The stock had a trading volume of 343,656 shares. Broadridge Financial Solutions has a 52 week low of $59.86 and a 52 week high of $78.00. The firm has a 50-day moving average price of $75.53 and a 200 day moving average price of $70.41. The company has a market capitalization of $8.88 billion, a PE ratio of 29.58 and a beta of 1.00.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.32 annualized dividend and a yield of 1.75%. Broadridge Financial Solutions’s dividend payout ratio is 51.56%.
Broadridge Financial Solutions Company Profile
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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