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.
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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.
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