Broadridge Financial Solutions, Inc. (NYSE:BR) Declares Quarterly Dividend of $1.09

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Tuesday, November 10th. Stockholders of record on Thursday, December 10th will be paid a dividend of $1.09 per share by the business services provider on Monday, January 11th. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, December 10th.

Broadridge Financial Solutions has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 18 years. Broadridge Financial Solutions has a dividend payout ratio of 47.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $11.67 per share next year, which means the company should continue to be able to cover its $4.36 annual dividend with an expected future payout ratio of 37.4%.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded down $2.79 during trading on Wednesday, reaching $190.17. The company’s stock had a trading volume of 68,047 shares, compared to its average volume of 1,318,083. Broadridge Financial Solutions has a one year low of $133.83 and a one year high of $233.10. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 21.01 and a beta of 0.90. The business’s fifty day moving average price is $172.51 and its 200-day moving average price is $165.69.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.19. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 EPS. As a group, equities research analysts predict that Broadridge Financial Solutions will post 10.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BR. UBS Group reaffirmed a “neutral” rating and set a $180.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. DA Davidson restated a “buy” rating and issued a $214.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.71.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.