Broadridge Financial Solutions, Inc. (BR) Expected to Announce Quarterly Sales of $922.62 Million
Equities research analysts predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will post sales of $922.62 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Broadridge Financial Solutions’ earnings, with the highest sales estimate coming in at $925.96 million and the lowest estimate coming in at $920.90 million. Broadridge Financial Solutions posted sales of $895.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The firm is expected to report its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Broadridge Financial Solutions will report full year sales of $922.62 million for the current fiscal year, with estimates ranging from $4.24 billion to $4.25 billion. For the next year, analysts forecast that the firm will post sales of $4.41 billion per share, with estimates ranging from $4.39 billion to $4.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted $1.45 EPS. The firm’s revenue was up 38.1% compared to the same quarter last year.
A number of equities analysts recently issued reports on the stock. BidaskClub raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Barclays PLC boosted their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a research report on Monday, August 7th. They set a “neutral” rating and a $74.00 target price on the stock.
Broadridge Financial Solutions (NYSE:BR) opened at 81.71 on Thursday. The firm’s 50-day moving average is $78.92 and its 200-day moving average is $74.26. The company has a market capitalization of $9.52 billion, a P/E ratio of 30.26 and a beta of 0.99. Broadridge Financial Solutions has a 1-year low of $59.86 and a 1-year high of $82.10.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.79%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s payout ratio is currently 53.48%.
In other Broadridge Financial Solutions news, insider Adam D. Amsterdam sold 17,813 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the sale, the insider now owns 20,646 shares in the company, valued at $1,588,916.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stuart R. Levine sold 7,868 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 18th. The stock was sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now owns 39,747 shares in the company, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth $108,000. Toronto Dominion Bank boosted its stake in Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after buying an additional 149 shares in the last quarter. Global X Management Co. LLC boosted its stake in Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after buying an additional 120 shares in the last quarter. Advisory Services Network LLC boosted its stake in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after buying an additional 706 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 83.77% of the company’s stock.
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Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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