Broadridge Financial Solutions, Inc. Forecasted to Earn Q2 2019 Earnings of $0.72 Per Share (BR)

Broadridge Financial Solutions, Inc. (NYSE:BR) – Equities research analysts at SunTrust Banks decreased their Q2 2019 earnings per share (EPS) estimates for Broadridge Financial Solutions in a note issued to investors on Wednesday, November 7th. SunTrust Banks analyst O. Turner now anticipates that the business services provider will post earnings of $0.72 per share for the quarter, down from their previous forecast of $0.89. SunTrust Banks currently has a “Buy” rating and a $150.00 price target 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 analysts also recently issued reports about 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 on the stock in a research report on Friday, August 10th. Wolfe Research began coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $130.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. 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 target price of $123.40.

Shares of Broadridge Financial Solutions stock traded down $0.60 during trading hours on Friday, reaching $106.92. The company’s stock had a trading volume of 120,000 shares, compared to its average volume of 1,025,755. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.28 and a current ratio of 1.69. Broadridge Financial Solutions has a one year low of $86.80 and a one year high of $138.24. The company has a market cap of $12.26 billion, a P/E ratio of 25.52, a PEG ratio of 2.25 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The company had revenue of $973.00 million for the quarter, compared to the consensus estimate of $970.19 million. During the same period last year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.

In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 47,192 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $134.11, for a total transaction of $6,328,919.12. Following the transaction, the chief executive officer now owns 387,336 shares of the company’s stock, valued at approximately $51,945,630.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Daly sold 67,974 shares of the firm’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the transaction, the chief executive officer now directly owns 233,673 shares in the company, valued at approximately $29,585,338.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 325,354 shares of company stock worth $42,709,350. 2.30% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. IFM Investors Pty Ltd acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $410,000. State of Alaska Department of Revenue grew its stake in shares of Broadridge Financial Solutions by 58.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 29,315 shares of the business services provider’s stock worth $3,374,000 after purchasing an additional 10,800 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Broadridge Financial Solutions by 4.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 13,066 shares of the business services provider’s stock worth $1,504,000 after purchasing an additional 538 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Broadridge Financial Solutions by 35.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 153,308 shares of the business services provider’s stock worth $17,646,000 after purchasing an additional 39,847 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. grew its stake in shares of Broadridge Financial Solutions by 46.1% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 16,942 shares of the business services provider’s stock worth $1,951,000 after purchasing an additional 5,347 shares during 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.

Further Reading: Book Value Per Share – BVPS

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

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