Broadridge Financial Solutions (NYSE:BR) Announces Quarterly Earnings Results

Broadridge Financial Solutions (NYSE:BR) released its quarterly earnings results on Wednesday. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01), Briefing.com reports. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Broadridge Financial Solutions updated its FY 2024 guidance to 7.710-7.710 EPS.

Broadridge Financial Solutions Stock Performance

BR stock traded up $2.00 during trading on Friday, hitting $195.06. The company had a trading volume of 109,446 shares, compared to its average volume of 494,439. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $199.85 and a 200-day moving average price of $195.61. Broadridge Financial Solutions has a 1-year low of $144.54 and a 1-year high of $210.24. The firm has a market cap of $22.97 billion, a PE ratio of 33.63 and a beta of 0.98.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BR. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Raymond James upped their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $206.67.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold 25,761 shares of company stock valued at $5,223,959 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.