Broadridge Financial Solutions, Inc. (BR) Expected to Announce Quarterly Sales of $1.30 Billion
Analysts expect Broadridge Financial Solutions, Inc. (NYSE:BR) to report sales of $1.30 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Broadridge Financial Solutions’ earnings. Broadridge Financial Solutions reported sales of $974.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 33.4%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Broadridge Financial Solutions will report full year sales of $1.30 billion for the current year. For the next fiscal year, analysts expect that the company will report sales of $4.30 billion per share. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, May 10th. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. Broadridge Financial Solutions had a net margin of 8.21% and a return on equity of 34.74%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.65 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 46.4% compared to the same quarter last year.
Several equities analysts have commented on BR shares. Zacks Investment Research cut Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Monday, March 27th. BidaskClub upgraded Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.00.
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Shares of Broadridge Financial Solutions (NYSE BR) traded up 0.03% during trading on Friday, hitting $75.27. 192,957 shares of the stock traded hands. Broadridge Financial Solutions has a 12 month low of $59.86 and a 12 month high of $78.00. The company has a 50 day moving average price of $75.52 and a 200 day moving average price of $70.48. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 29.48 and a beta of 1.00.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, June 13th. Broadridge Financial Solutions’s payout ratio is presently 51.56%.
In related news, SVP Christopher John Perry sold 73,936 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $72.57, for a total transaction of $5,365,535.52. Following the sale, the senior vice president now owns 91,276 shares of the company’s stock, valued at approximately $6,623,899.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Laura Matlin sold 630 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $378,932.19. The disclosure for this sale can be found here. Insiders have sold a total of 323,032 shares of company stock worth $24,016,648 in the last ninety days. 3.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after buying an additional 135 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock valued at $202,000 after buying an additional 174 shares during the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock valued at $230,000 after buying an additional 478 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $233,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Broadridge Financial Solutions by 13.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,450 shares of the business services provider’s stock valued at $234,000 after buying an additional 400 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.
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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