Equities analysts expect that Broadridge Financial Solutions, Inc. (NYSE:BR) will post $0.67 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Broadridge Financial Solutions’ earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.68. Broadridge Financial Solutions posted earnings per share of $0.54 in the same quarter last year, which suggests a positive year over year growth rate of 24.1%. The company is expected to issue its next quarterly earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year earnings of $4.65 per share for the current fiscal year, with EPS estimates ranging from $4.60 to $4.70. For the next fiscal year, analysts anticipate that the business will post earnings of $5.06 per share, with EPS estimates ranging from $4.95 to $5.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.01). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%.
Several equities research analysts have recently commented on BR shares. SunTrust Banks started coverage on Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday, August 10th. Wolfe Research started coverage on Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating for the company. Finally, Sandler O’Neill restated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $123.40.
In related news, CEO Richard J. Daly sold 210,188 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the transaction, the chief executive officer now owns 387,336 shares of the company’s stock, valued at $51,182,579.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP James M. Young sold 44,726 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $129.79, for a total value of $5,804,987.54. Following the transaction, the vice president now directly owns 64,848 shares in the company, valued at approximately $8,416,621.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,106 shares of company stock valued at $39,908,149. Corporate insiders own 2.30% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Pennsylvania Trust Co boosted its position in shares of Broadridge Financial Solutions by 1.6% during the third quarter. Pennsylvania Trust Co now owns 133,301 shares of the business services provider’s stock valued at $17,589,000 after buying an additional 2,065 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $242,000. Fox Run Management L.L.C. purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $465,000. American Research & Management Co. purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $674,000. Finally, United Services Automobile Association boosted its position in Broadridge Financial Solutions by 20.7% in the second quarter. United Services Automobile Association now owns 99,791 shares of the business services provider’s stock worth $11,486,000 after purchasing an additional 17,104 shares during the last quarter. 84.86% of the stock is currently owned by institutional investors.
Shares of NYSE BR traded up $0.39 during midday trading on Thursday, hitting $125.55. 12,177 shares of the stock traded hands, compared to its average volume of 917,665. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 2.84 and a beta of 0.88. Broadridge Financial Solutions has a one year low of $81.69 and a one year high of $138.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th were issued a dividend of $0.485 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, September 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.55%. Broadridge Financial Solutions’s payout ratio is currently 46.30%.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.
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