DA Davidson Research Analysts Lift Earnings Estimates for Broadridge Financial Solutions, Inc. (BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) – Analysts at DA Davidson upped their Q3 2019 earnings estimates for shares of Broadridge Financial Solutions in a research report issued to clients and investors on Wednesday, August 8th. DA Davidson analyst P. Heckmann now expects that the business services provider will post earnings per share of $1.48 for the quarter, up from their prior estimate of $1.00. DA Davidson also issued estimates for Broadridge Financial Solutions’ Q4 2019 earnings at $1.78 EPS, Q3 2020 earnings at $1.63 EPS and Q4 2020 earnings at $1.91 EPS.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday. Sandler O’Neill reiterated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Wolfe Research started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating on the stock. Finally, ValuEngine cut shares of Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $116.75.

Shares of NYSE BR opened at $129.02 on Monday. The stock has a market cap of $15.05 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 2.79 and a beta of 0.79. Broadridge Financial Solutions has a 1 year low of $74.36 and a 1 year high of $131.21. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.01). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Broadridge Financial Solutions by 0.4% in the first quarter. BlackRock Inc. now owns 13,933,172 shares of the business services provider’s stock valued at $1,528,329,000 after acquiring an additional 49,076 shares during the last quarter. Northern Trust Corp boosted its stake in Broadridge Financial Solutions by 0.5% in the first quarter. Northern Trust Corp now owns 1,719,607 shares of the business services provider’s stock valued at $188,623,000 after acquiring an additional 8,548 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Broadridge Financial Solutions by 28.8% in the second quarter. Wells Fargo & Company MN now owns 1,477,573 shares of the business services provider’s stock valued at $170,067,000 after acquiring an additional 330,694 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Broadridge Financial Solutions by 11.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,240,020 shares of the business services provider’s stock valued at $142,765,000 after acquiring an additional 129,612 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Broadridge Financial Solutions by 1.9% in the second quarter. Swiss National Bank now owns 873,900 shares of the business services provider’s stock valued at $100,586,000 after acquiring an additional 16,300 shares during the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.

In related news, VP James M. Young sold 44,726 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $129.79, for a total transaction of $5,804,987.54. Following the transaction, the vice president now directly owns 64,848 shares in the company, valued at $8,416,621.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Haviland sold 15,430 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $116.51, for a total transaction of $1,797,749.30. Following the transaction, the director now owns 52,032 shares in the company, valued at $6,062,248.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,453 shares of company stock worth $23,081,366. 2.60% of the stock is owned by corporate insiders.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th will be issued a dividend of $0.485 per share. The ex-dividend date is Monday, September 17th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. This represents a $1.94 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s payout ratio is 34.84%.

About Broadridge Financial Solutions

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

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