DA Davidson Weighs in on Broadridge Financial Solutions, Inc.’s Q3 2018 Earnings (BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) – DA Davidson increased their Q3 2018 EPS estimates for Broadridge Financial Solutions in a research note issued to investors on Friday. DA Davidson analyst P. Heckmann now expects that the business services provider will post earnings of $0.79 per share for the quarter, up from their previous forecast of $0.75. DA Davidson has a “Hold” rating and a $86.00 price objective on the stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ FY2018 earnings at $4.02 EPS and Q2 2019 earnings at $0.69 EPS.

Other equities analysts also recently issued research reports about the company. Barclays increased their price objective on Broadridge Financial Solutions from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday. Sandler O’Neill set a $95.00 price objective on Broadridge Financial Solutions and gave the stock a “hold” rating in a report on Thursday. ValuEngine downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a report on Monday, December 4th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $97.25.

Broadridge Financial Solutions (BR) opened at $92.19 on Monday. Broadridge Financial Solutions has a twelve month low of $66.49 and a twelve month high of $97.54. The company has a market capitalization of $10,754.33, a P/E ratio of 29.36, a P/E/G ratio of 2.28 and a beta of 1.01. The company has a quick ratio of 1.70, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.21. Broadridge Financial Solutions had a return on equity of 44.02% and a net margin of 8.74%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $945.80 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Broadridge Financial Solutions by 6.3% during the fourth quarter. BlackRock Inc. now owns 13,884,096 shares of the business services provider’s stock valued at $1,257,619,000 after purchasing an additional 818,115 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Broadridge Financial Solutions by 3.8% in the third quarter. Principal Financial Group Inc. now owns 1,461,535 shares of the business services provider’s stock valued at $118,123,000 after acquiring an additional 53,439 shares during the period. Wells Fargo & Company MN boosted its position in shares of Broadridge Financial Solutions by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,180,392 shares of the business services provider’s stock valued at $106,919,000 after acquiring an additional 18,901 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Broadridge Financial Solutions by 1.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 860,629 shares of the business services provider’s stock valued at $69,556,000 after acquiring an additional 8,602 shares during the period. Finally, Swiss National Bank boosted its position in shares of Broadridge Financial Solutions by 1.7% in the fourth quarter. Swiss National Bank now owns 858,200 shares of the business services provider’s stock valued at $77,736,000 after acquiring an additional 14,300 shares during the period. Institutional investors own 83.83% of the company’s stock.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 49,181 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the transaction, the insider now owns 149,181 shares in the company, valued at $13,347,224.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard J. Haviland sold 7,655 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total value of $677,544.05. Following the transaction, the director now owns 44,482 shares in the company, 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.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.365 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.46 annualized dividend and a yield of 1.58%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.50%.

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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.

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

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