Broadridge Financial Solutions (NYSE:BR) Announces Earnings Results, Beats Expectations By $0.19 EPS

Broadridge Financial Solutions (NYSE:BR) posted its earnings results on Tuesday. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.19, Zacks reports. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $1.51 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $181.73 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. Broadridge Financial Solutions has a fifty-two week low of $133.83 and a fifty-two week high of $233.10. The business has a fifty day moving average of $171.67 and a 200-day moving average of $166.40. The stock has a market cap of $20.52 billion, a price-to-earnings ratio of 18.80 and a beta of 0.92.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas Carey sold 2,501 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the sale, the vice president owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BR. UBS Group restated a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Royal Bank Of Canada lifted their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. DA Davidson reiterated a “buy” rating and set a $214.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Finally, Weiss Ratings raised shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $216.00.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.