Equities research analysts expect Broadridge Financial Solutions, Inc. (NYSE:BR) to announce sales of $953.72 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Broadridge Financial Solutions’ earnings. The highest sales estimate is $963.37 million and the lowest is $943.80 million. Broadridge Financial Solutions reported sales of $892.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full year sales of $953.72 million for the current financial year, with estimates ranging from $4.24 billion to $4.26 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.41 billion per share, with estimates ranging from $4.39 billion to $4.43 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The firm had revenue of $925.00 million during the quarter, compared to the consensus estimate of $923.68 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 3.4% on a year-over-year basis.
Shares of Broadridge Financial Solutions (NYSE BR) opened at $90.26 on Friday. Broadridge Financial Solutions has a 1 year low of $63.28 and a 1 year high of $91.75. The company has a market capitalization of $10,490.00, a P/E ratio of 27.09, a P/E/G ratio of 2.43 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 51.05%.
In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BR. Advisory Services Network LLC increased its holdings in Broadridge Financial Solutions by 82.8% during the 2nd 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 period. Wendell David Associates Inc. increased its holdings in shares of Broadridge Financial Solutions by 9.3% in the 3rd quarter. Wendell David Associates Inc. now owns 71,316 shares of the business services provider’s stock worth $5,764,000 after buying an additional 6,043 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Broadridge Financial Solutions by 1,647.4% in the 2nd quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock worth $542,669,000 after buying an additional 6,770,958 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $296,000. Finally, Tredje AP fonden increased its holdings in shares of 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 worth $2,290,000 after buying an additional 3,990 shares during the last quarter. Hedge funds and other institutional investors own 83.52% of the company’s stock.
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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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