Zacks: Analysts Anticipate Broadridge Financial Solutions, Inc. (NYSE:BR) Will Announce Quarterly Sales of $1.20 Billion

Wall Street analysts predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will announce $1.20 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Broadridge Financial Solutions’ earnings, with the lowest sales estimate coming in at $1.15 billion and the highest estimate coming in at $1.24 billion. Broadridge Financial Solutions reported sales of $1.05 billion during the same quarter last year, which would suggest a positive year over year growth rate of 14.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The company is expected to announce its next earnings results on Tuesday, February 1st.

According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year sales of $5.59 billion for the current financial year, with estimates ranging from $5.46 billion to $5.70 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.88 billion, with estimates ranging from $5.77 billion to $6.00 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Broadridge Financial Solutions.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 2nd. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Broadridge Financial Solutions had a net margin of 10.62{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 41.21{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The firm’s quarterly revenue was up 17.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share.

(Ad)

As of December 13, 2021, Bitcoin is over $40,000. In fact, some experts believe Bitcoin could replace gold in the future.
But most people aren’t even aware of these 5 stocks in the crypto space…

Separately, Raymond James boosted their target price on shares of Broadridge Financial Solutions from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, November 4th.

In other news, VP Vijay Mayadas sold 25,208 shares of the company’s stock in a transaction dated Monday, November 29th. The shares were sold at an average price of $174.00, for a total transaction of $4,386,192.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Christopher John Perry sold 415 shares of the company’s stock in a transaction dated Tuesday, December 28th. The shares were sold at an average price of $185.04, for a total transaction of $76,791.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,180 shares of company stock worth $11,736,880. 1.90{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in Broadridge Financial Solutions by 0.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. BlackRock Inc. now owns 9,283,177 shares of the business services provider’s stock worth $1,546,949,000 after purchasing an additional 86,967 shares in the last quarter. State Street Corp grew its position in Broadridge Financial Solutions by 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. State Street Corp now owns 4,846,335 shares of the business services provider’s stock worth $785,564,000 after purchasing an additional 16,629 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Broadridge Financial Solutions by 2.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,811,623 shares of the business services provider’s stock worth $777,221,000 after purchasing an additional 112,745 shares in the last quarter. Geode Capital Management LLC grew its position in Broadridge Financial Solutions by 4.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Geode Capital Management LLC now owns 2,160,725 shares of the business services provider’s stock worth $359,184,000 after purchasing an additional 91,573 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Broadridge Financial Solutions by 156.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,268,126 shares of the business services provider’s stock worth $211,321,000 after purchasing an additional 774,130 shares in the last quarter. 86.57{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by institutional investors.

Shares of NYSE:BR opened at $177.46 on Thursday. The company’s 50 day simple moving average is $176.38 and its 200 day simple moving average is $172.48. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 38.16 and a beta of 0.88. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.25 and a quick ratio of 1.25. Broadridge Financial Solutions has a 1 year low of $137.91 and a 1 year high of $185.40.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 5th. Investors of record on Wednesday, December 15th were issued a $0.64 dividend. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $2.56 annualized dividend and a yield of 1.44{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Broadridge Financial Solutions’s payout ratio is 55.05{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.

Read More: Most Active Stocks

Get a free copy of the Zacks research report on Broadridge Financial Solutions (BR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Broadridge Financial Solutions right now?

Before you consider Broadridge Financial Solutions, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Broadridge Financial Solutions wasn’t on the list.

While Broadridge Financial Solutions currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 

Minnie Arwood

Next Post

Parthenon acquiring RSM US wealth practice

Thu Jan 6 , 2022
Parthenon Money, a non-public equity business centered in Boston, has struck an agreement with Chicago-based mostly RSM US LLP, to get Leading Five Firm’s wealth administration observe. RSM US Prosperity Administration LLC will be renamed Choreo LLC, with “Choreo” as the new brand name identify. The deal is expected to […]

You May Like