Brokerages Expect Broadridge Financial Solutions, Inc. (BR) Will Post Quarterly Sales of $953.72 Million

Wall Street analysts predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will report $953.72 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Broadridge Financial Solutions’ earnings, with estimates ranging from $943.80 million to $963.37 million. Broadridge Financial Solutions reported sales of $892.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is expected to issue its next 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 year, with estimates ranging from $4.24 billion to $4.26 billion. For the next financial year, analysts expect that the firm will report sales of $4.41 billion per share, with estimates ranging from $4.39 billion to $4.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Broadridge Financial Solutions.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year.

A number of research firms recently commented on BR. DA Davidson reiterated a “hold” rating and set a $86.00 price objective on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Barclays reiterated a “hold” rating and set a $95.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, December 8th. Zacks Investment Research cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Six research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $90.50.

In related news, insider Robert Schifellite sold 49,181 shares of Broadridge Financial Solutions stock in a transaction on Friday, December 8th. The shares were sold at an average price of $89.47, for a total value of $4,400,224.07. Following the completion of the sale, the insider now owns 149,181 shares of the company’s stock, valued at approximately $13,347,224.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Haviland sold 7,655 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $88.51, for a total transaction of $677,544.05. Following the transaction, the director now directly owns 44,482 shares of the company’s stock, valued at approximately $3,937,101.82. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its position in shares of 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 in the last quarter. Wendell David Associates Inc. increased its position in Broadridge Financial Solutions by 9.3% during the third quarter. Wendell David Associates Inc. now owns 71,316 shares of the business services provider’s stock worth $5,764,000 after acquiring an additional 6,043 shares during the period. Janus Henderson Group PLC increased 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 acquiring an additional 6,770,958 shares during the period. Cubist Systematic Strategies LLC bought a new position in Broadridge Financial Solutions during the second quarter worth about $296,000. Finally, JPMorgan Chase & Co. increased its position in Broadridge Financial Solutions by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock worth $40,590,000 after acquiring an additional 71,106 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions (BR) traded up $0.80 during midday trading on Monday, hitting $95.93. 289,300 shares of the company were exchanged, compared to its average volume of 386,846. Broadridge Financial Solutions has a fifty-two week low of $65.35 and a fifty-two week high of $96.00. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $11,210.00, a price-to-earnings ratio of 33.54, a PEG ratio of 2.58 and a beta of 0.99.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th were paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 51.05%.

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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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Earnings History and Estimates for Broadridge Financial Solutions (NYSE:BR)

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