Zacks: Analysts Expect Broadridge Financial Solutions, Inc. (BR) Will Post Quarterly Sales of $923.29 Million
Analysts expect that Broadridge Financial Solutions, Inc. (NYSE:BR) will report $923.29 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Broadridge Financial Solutions’ earnings, with the highest sales estimate coming in at $925.96 million and the lowest estimate coming in at $921.00 million. Broadridge Financial Solutions reported sales of $895.30 million in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The company is scheduled to announce its next earnings report on Wednesday, November 8th.
On average, analysts expect that Broadridge Financial Solutions will report full-year sales of $923.29 million for the current financial year, with estimates ranging from $4.24 billion to $4.26 billion. For the next year, analysts expect that the firm will post sales of $4.42 billion per share, with estimates ranging from $4.39 billion to $4.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms 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 for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted $1.45 EPS. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis.
A number of equities research analysts have weighed in on BR shares. BidaskClub downgraded shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Barclays PLC upped their price target on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 price objective for the company.
In other news, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the transaction, the insider now owns 20,646 shares in the company, valued at approximately $1,588,916.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard J. Daly sold 94,039 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total value of $7,706,496.05. The disclosure for this sale can be found here. Insiders have sold 119,720 shares of company stock valued at $9,679,916 over the last ninety days. Insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in Broadridge Financial Solutions by 1,647.4% during the second quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock worth $542,669,000 after purchasing an additional 6,770,958 shares during the period. OppenheimerFunds Inc. boosted its position in Broadridge Financial Solutions by 20.4% during the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock worth $839,000 after purchasing an additional 2,092 shares during the period. Tredje AP fonden boosted its position in Broadridge Financial Solutions by 15.2% during the second quarter. Tredje AP fonden now owns 30,180 shares of the business services provider’s stock worth $2,290,000 after purchasing an additional 3,990 shares during the period. Swiss National Bank boosted its position in Broadridge Financial Solutions by 1.4% during the second quarter. Swiss National Bank now owns 838,900 shares of the business services provider’s stock worth $63,387,000 after purchasing an additional 11,200 shares during the period. Finally, Dearborn Partners LLC boosted its position in Broadridge Financial Solutions by 3.4% during the second quarter. Dearborn Partners LLC now owns 227,247 shares of the business services provider’s stock worth $17,171,000 after purchasing an additional 7,378 shares during the period. Institutional investors own 83.49% of the company’s stock.
Broadridge Financial Solutions (NYSE:BR) traded up 0.18% during trading on Tuesday, reaching $84.48. 67,722 shares of the company’s stock traded hands. Broadridge Financial Solutions has a 12 month low of $59.86 and a 12 month high of $84.65. The company has a 50-day moving average of $81.10 and a 200 day moving average of $75.74. The stock has a market capitalization of $9.84 billion, a P/E ratio of 31.29 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, September 14th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a yield of 1.73%. Broadridge Financial Solutions’s dividend payout ratio is currently 53.48%.
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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