Donnelley Financial Solutions (NYSE:DFIN) Trading Up 10.3% After Earnings Beat

Donnelley Financial Solutions (NYSE:DFIN) shot up 10.3% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $49.09 and last traded at $48.3650. 115,612 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 266,230 shares. The stock had previously closed at $43.83.

The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.30. The business had revenue of $172.50 million for the quarter, compared to the consensus estimate of $155.27 million. Donnelley Financial Solutions had a net margin of 4.22% and a return on equity of 23.88%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share.

Analysts Set New Price Targets

A number of research firms have commented on DFIN. Zacks Research cut shares of Donnelley Financial Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. CJS Securities raised shares of Donnelley Financial Solutions to a “strong-buy” rating in a report on Thursday, December 11th. Wall Street Zen raised Donnelley Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Donnelley Financial Solutions in a research note on Monday, December 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of Donnelley Financial Solutions in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Institutional Trading of Donnelley Financial Solutions

Several hedge funds have recently made changes to their positions in DFIN. Caitong International Asset Management Co. Ltd increased its position in shares of Donnelley Financial Solutions by 1,107.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. CWM LLC boosted its position in shares of Donnelley Financial Solutions by 53.7% during the second quarter. CWM LLC now owns 690 shares of the company’s stock valued at $43,000 after buying an additional 241 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Donnelley Financial Solutions during the third quarter valued at approximately $52,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Donnelley Financial Solutions in the fourth quarter worth approximately $70,000. Finally, Versant Capital Management Inc boosted its holdings in Donnelley Financial Solutions by 28.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,528 shares of the company’s stock valued at $79,000 after acquiring an additional 343 shares during the period. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

Donnelley Financial Solutions Stock Performance

The firm has a market cap of $1.24 billion, a PE ratio of 45.29 and a beta of 0.92. The business has a 50 day simple moving average of $48.49 and a two-hundred day simple moving average of $50.30. The company has a quick ratio of 1.13, a current ratio of 1.06 and a debt-to-equity ratio of 0.44.

Donnelley Financial Solutions Company Profile

Donnelley Financial Solutions (NYSE:DFIN) offers risk and compliance software and managed services designed to help corporations, financial institutions and legal firms meet regulatory and reporting requirements worldwide. Headquartered in Chicago, the company delivers a cloud-based platform for regulatory filings, content automation, virtual data rooms and board communications. Its solutions are tailored to support public companies with SEC, FCA and other global filing obligations, as well as banks, asset managers and credit unions seeking to streamline compliance workflows.

Among DFIN’s flagship products is ActiveDisclosure, a SaaS application that automates the creation, review and filing of disclosure documents.