Q2 2018 EPS Estimates for Broadridge Financial Solutions, Inc. Boosted by Analyst (BR)
Broadridge Financial Solutions, Inc. (NYSE:BR) – DA Davidson raised their Q2 2018 earnings estimates for shares of Broadridge Financial Solutions in a report issued on Monday. DA Davidson analyst P. Heckmann now forecasts that the business services provider will earn $0.51 per share for the quarter, up from their prior estimate of $0.50. DA Davidson currently has a “Neutral” rating and a $74.00 price objective on the stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ FY2018 earnings at $3.64 EPS, Q2 2019 earnings at $0.53 EPS, Q4 2019 earnings at $2.06 EPS and FY2019 earnings at $3.94 EPS.
BR has been the subject of several other reports. BidaskClub upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Barclays PLC upped their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th.
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Broadridge Financial Solutions (NYSE:BR) traded down 0.165% during mid-day trading on Wednesday, hitting $81.575. The stock had a trading volume of 120,272 shares. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 30.213 and a beta of 0.99. Broadridge Financial Solutions has a one year low of $59.86 and a one year high of $82.10. The stock’s 50 day moving average price is $78.76 and its 200 day moving average price is $74.21.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.71. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. Broadridge Financial Solutions’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were issued a $0.365 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.79%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s payout ratio is currently 53.48%.
In other news, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the sale, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,588,916.16. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. OppenheimerFunds Inc. increased its stake in Broadridge Financial Solutions by 20.4% during the 1st quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock worth $839,000 after acquiring an additional 2,092 shares during the period. Tredje AP fonden raised its holdings in Broadridge Financial Solutions by 15.2% in the 2nd quarter. Tredje AP fonden now owns 30,180 shares of the business services provider’s stock valued at $2,290,000 after acquiring an additional 3,990 shares in the last quarter. Swiss National Bank lifted its position in shares of Broadridge Financial Solutions by 1.4% during the 2nd quarter. Swiss National Bank now owns 838,900 shares of the business services provider’s stock valued at $63,387,000 after acquiring an additional 11,200 shares during the period. Morgan Stanley lifted its position in shares of Broadridge Financial Solutions by 47.0% during the 1st quarter. Morgan Stanley now owns 454,416 shares of the business services provider’s stock valued at $30,878,000 after acquiring an additional 145,274 shares during the period. Finally, Confluence Investment Management LLC lifted its position in shares of Broadridge Financial Solutions by 2.6% during the 2nd quarter. Confluence Investment Management LLC now owns 994,106 shares of the business services provider’s stock valued at $75,115,000 after acquiring an additional 25,421 shares during the period. 83.77% of the stock is currently owned by institutional investors and hedge funds.
About Broadridge Financial Solutions
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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