Brokerages expect Broadridge Financial Solutions, Inc. (NYSE:BR) to report sales of $1.30 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Broadridge Financial Solutions’ earnings. Broadridge Financial Solutions reported sales of $974.50 million in the same quarter last year, which suggests a positive year over year growth rate of 33.4%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, August 10th.
On average, analysts expect that Broadridge Financial Solutions will report full-year sales of $1.30 billion for the current year. For the next fiscal year, analysts forecast that the business will post sales of $4.30 billion per share. Zacks’ sales averages are a mean average based on a survey of research firms that follow Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.65 million. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The firm’s revenue was up 46.4% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share.
A number of analysts have commented on the stock. DA Davidson assumed coverage on shares of Broadridge Financial Solutions in a report on Monday. They issued a “neutral” rating and a $74.00 price objective for the company. BidaskClub downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $74.75.
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In other news, insider Douglas Richard Deschutter sold 34,385 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $75.17, for a total transaction of $2,584,720.45. Following the completion of the sale, the insider now owns 106,653 shares in the company, valued at approximately $8,017,106.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schifellite sold 76,666 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the sale, the insider now owns 105,042 shares of the company’s stock, valued at approximately $7,981,091.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,032 shares of company stock valued at $24,016,648. 3.50% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in BR. Global X Management Co. LLC increased its stake in shares of Broadridge Financial Solutions by 8.5% in 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. Van ECK Associates Corp increased its stake in shares of Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock worth $123,000 after buying an additional 135 shares in the last quarter. Airain ltd purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $204,000. Fiduciary Trust Co. purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $212,000. Finally, Penserra Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the business services provider’s stock worth $227,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
Broadridge Financial Solutions (NYSE BR) opened at 74.65 on Thursday. Broadridge Financial Solutions has a 52-week low of $59.86 and a 52-week high of $78.00. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 29.24 and a beta of 0.99. The company has a 50-day moving average price of $75.57 and a 200 day moving average price of $71.18.
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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