Broadridge Financial Solutions (NYSE:BR) Issues FY 2021 Earnings Guidance


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Broadridge Financial Solutions (NYSE:BR) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.583-5.684 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.540. The company issued revenue guidance of $4.89 billion-$4.98 billion, compared to the consensus revenue estimate of $4.75 billion.Broadridge Financial Solutions also updated its FY21 guidance to $5.58-$5.68 EPS.

A number of equities analysts have weighed in on BR shares. BTIG Research upgraded Broadridge Financial Solutions from a neutral rating to a buy rating and set a $176.00 price target for the company in a report on Wednesday, February 3rd. Raymond James upped their target price on shares of Broadridge Financial Solutions from $155.00 to $157.00 and gave the company an outperform rating in a research note on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Broadridge Financial Solutions currently has an average rating of Buy and a consensus target price of $154.17.

BR traded up $2.88 during trading on Tuesday, hitting $162.86. The company had a trading volume of 836,670 shares, compared to its average volume of 571,325. Broadridge Financial Solutions has a 1-year low of $110.74 and a 1-year high of $163.83. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $18.86 billion, a PE ratio of 40.21 and a beta of 0.83. The business has a 50-day moving average of $155.03 and a 200-day moving average of $149.03.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, May 4th. The business services provider reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.09. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.28 billion. Broadridge Financial Solutions had a net margin of 10.27% and a return on equity of 48.98%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 EPS. Research analysts forecast that Broadridge Financial Solutions will post 5.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Shareholders of record on Monday, March 15th were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, March 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 45.73%.

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,699 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $144.83, for a total value of $535,726.17. Following the completion of the transaction, the director now directly owns 34,266 shares in the company, valued at $4,962,744.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Adam D. Amsterdam sold 20,936 shares of the company’s stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $148.49, for a total value of $3,108,786.64. Following the transaction, the vice president now directly owns 21,400 shares of the company’s stock, valued at $3,177,686. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About Broadridge Financial Solutions

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.

Further Reading: Dividend Reinvestment Plan (DRIP)

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

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