Broadridge Financial Solutions, Inc. (NYSE:BR) – Investment analysts at SunTrust Banks dropped their Q2 2019 earnings per share estimates for Broadridge Financial Solutions in a research note issued to investors on Wednesday, November 7th. SunTrust Banks analyst O. Turner now anticipates that the business services provider will earn $0.72 per share for the quarter, down from their previous forecast of $0.89. SunTrust Banks has a “Buy” rating and a $150.00 price objective on the stock. SunTrust Banks also issued estimates for Broadridge Financial Solutions’ Q3 2019 earnings at $1.55 EPS, Q4 2019 earnings at $1.59 EPS, FY2019 earnings at $4.65 EPS, Q1 2020 earnings at $0.78 EPS, Q2 2020 earnings at $0.91 EPS, Q4 2020 earnings at $1.77 EPS, FY2020 earnings at $5.15 EPS and FY2021 earnings at $5.59 EPS.
Other research analysts have also recently issued reports about the company. Sandler O’Neill reissued a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Wolfe Research initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research cut Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $123.40.
NYSE BR opened at $107.21 on Friday. Broadridge Financial Solutions has a one year low of $86.80 and a one year high of $138.24. The stock has a market capitalization of $12.69 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.93.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.11. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. The company had revenue of $973.00 million during the quarter, compared to analyst estimates of $970.19 million. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be given a $0.485 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.94 annualized dividend and a yield of 1.81%. Broadridge Financial Solutions’s payout ratio is 46.30%.
In other news, CEO Richard J. Daly sold 210,188 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the transaction, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at approximately $51,182,579.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Daly sold 67,974 shares of Broadridge Financial Solutions stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $126.61, for a total value of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares in the company, valued at $29,585,338.53. The disclosure for this sale can be found here. Insiders sold 325,354 shares of company stock worth $42,709,350 over the last three months. Insiders own 2.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $106,000. Bartlett & Co. LLC lifted its position in shares of Broadridge Financial Solutions by 375.0% during the 2nd quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock valued at $109,000 after buying an additional 750 shares in the last quarter. Squar Milner Financial Services LLC purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $109,000. Fort L.P. purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $120,000. Finally, Signaturefd LLC lifted its position in shares of Broadridge Financial Solutions by 101.6% during the 2nd quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock valued at $128,000 after buying an additional 562 shares in the last quarter. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.
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