Broadridge Financial Solutions, Inc. (BR) Expected to Announce Earnings of $1.68 Per Share
Analysts predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will report $1.68 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Broadridge Financial Solutions’ earnings. The lowest EPS estimate is $1.66 and the highest is $1.70. Broadridge Financial Solutions reported earnings of $1.45 per share in the same quarter last year, which suggests a positive year over year growth rate of 15.9%. The firm is expected to issue its next quarterly earnings report before the market opens on Thursday, August 10th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year earnings of $3.12 per share for the current year, with EPS estimates ranging from $3.10 to $3.13. For the next fiscal year, analysts expect that the firm will report earnings of $3.51 per share, with EPS estimates ranging from $3.47 to $3.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 10th. The business services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $0.58 EPS.
Several equities analysts have issued reports on the stock. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research note on Monday. They issued a “neutral” rating and a $74.00 price objective for the company. BidaskClub downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $74.75.
Shares of Broadridge Financial Solutions (NYSE:BR) traded down 0.71% during mid-day trading on Tuesday, reaching $75.06. The company’s stock had a trading volume of 360,747 shares. The company’s 50-day moving average is $75.57 and its 200-day moving average is $71.18. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 29.40 and a beta of 0.99. Broadridge Financial Solutions has a 52 week low of $59.86 and a 52 week high of $78.00.
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In other news, insider Robert Schifellite sold 5,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $72.83, for a total transaction of $364,150.00. Following the completion of the sale, the insider now owns 79,167 shares in the company, valued at $5,765,732.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 630 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $71.89, for a total transaction of $45,290.70. Following the sale, the vice president now owns 5,271 shares of the company’s stock, valued at approximately $378,932.19. The disclosure for this sale can be found here. Insiders sold 323,032 shares of company stock valued at $24,016,648 in the last 90 days. 3.50% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in BR. Global X Management Co. LLC increased its stake in shares of Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after buying an additional 120 shares during the period. 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 period. 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 period. Airain ltd acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $204,000. Finally, Penserra Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the business services provider’s stock valued at $227,000 after buying an additional 348 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.
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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