Broadridge Financial Solutions, Inc. (BR) Expected to Post Earnings of $0.40 Per Share
Equities analysts expect Broadridge Financial Solutions, Inc. (NYSE:BR) to announce $0.40 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Broadridge Financial Solutions’ earnings. The lowest EPS estimate is $0.38 and the highest is $0.43. Broadridge Financial Solutions posted earnings per share of $0.36 during the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The company is scheduled to issue its next earnings results on Wednesday, November 8th.
On average, analysts expect that Broadridge Financial Solutions will report full-year earnings of $3.65 per share for the current fiscal year, with EPS estimates ranging from $3.62 to $3.70. For the next year, analysts anticipate that the firm will post earnings of $3.98 per share, with EPS estimates ranging from $3.92 to $4.03. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 earnings per share.
Several research analysts have issued reports on BR shares. BidaskClub raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Barclays PLC raised their price objective on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, DA Davidson started coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $74.00.
In related news, insider Adam D. Amsterdam sold 17,813 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the sale, the insider now owns 20,646 shares in the company, valued at $1,588,916.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stuart R. Levine sold 7,868 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the sale, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new position in Broadridge Financial Solutions during the second quarter worth about $108,000. Toronto Dominion Bank raised its position in Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after acquiring an additional 149 shares during the last quarter. Global X Management Co. LLC raised its position in Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after acquiring an additional 120 shares during the last quarter. Advisory Services Network LLC raised its position in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after acquiring an additional 706 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its position in Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.
Broadridge Financial Solutions (NYSE:BR) traded up 0.15% on Thursday, reaching $79.30. 268,620 shares of the company were exchanged. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 29.37 and a beta of 0.97. Broadridge Financial Solutions has a 52 week low of $59.86 and a 52 week high of $80.48. The stock has a 50-day moving average price of $76.84 and a 200 day moving average price of $73.09.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be issued a $0.365 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, September 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.84%. Broadridge Financial Solutions’s payout ratio is presently 48.35%.
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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