Broadridge Financial Solutions (NYSE:BR) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Broadridge Financial Solutions (NYSE:BR) posted its earnings results on Thursday, February 8th. The business services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.21, Bloomberg Earnings reports. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $945.80 million. Broadridge Financial Solutions had a net margin of 8.74% and a return on equity of 44.02%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS.

Shares of Broadridge Financial Solutions (BR) traded up $0.48 during midday trading on Thursday, reaching $97.82. 222,185 shares of the company’s stock were exchanged, compared to its average volume of 504,688. Broadridge Financial Solutions has a twelve month low of $66.49 and a twelve month high of $98.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market capitalization of $11,139.31, a PE ratio of 31.00, a P/E/G ratio of 2.37 and a beta of 1.01.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 14th. Broadridge Financial Solutions’s payout ratio is currently 46.50%.

In related news, VP Laura Matlin sold 25,125 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $95.76, for a total value of $2,405,970.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard J. Haviland sold 7,655 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total transaction of $677,544.05. Following the completion of the sale, the director now owns 44,482 shares in the company, valued at approximately $3,937,101.82. The disclosure for this sale can be found here. Insiders have sold 145,558 shares of company stock worth $13,391,453 over the last quarter. Company insiders own 2.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BR. BlackRock Inc. lifted its position in Broadridge Financial Solutions by 6.3% during the fourth quarter. BlackRock Inc. now owns 13,884,096 shares of the business services provider’s stock valued at $1,257,619,000 after buying an additional 818,115 shares during the period. Deutsche Bank AG lifted its position in Broadridge Financial Solutions by 38.1% during the fourth quarter. Deutsche Bank AG now owns 1,379,752 shares of the business services provider’s stock valued at $124,975,000 after buying an additional 380,595 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Broadridge Financial Solutions by 117.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 631,102 shares of the business services provider’s stock valued at $57,192,000 after buying an additional 340,725 shares during the period. Renaissance Technologies LLC lifted its position in Broadridge Financial Solutions by 59.3% during the fourth quarter. Renaissance Technologies LLC now owns 699,300 shares of the business services provider’s stock valued at $63,343,000 after buying an additional 260,236 shares during the period. Finally, Alta Capital Management LLC lifted its position in Broadridge Financial Solutions by 133.0% during the third quarter. Alta Capital Management LLC now owns 454,536 shares of the business services provider’s stock valued at $36,735,000 after buying an additional 259,450 shares during the period. 83.50% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on BR. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Wednesday, January 31st. Sandler O’Neill set a $95.00 target price on shares of Broadridge Financial Solutions and gave the stock a “hold” rating in a research note on Thursday, February 8th. DA Davidson restated a “hold” rating and set a $86.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday, November 9th. Raymond James Financial reiterated a “hold” rating on shares of Broadridge Financial Solutions in a research report on Monday, December 4th. Finally, ValuEngine lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $97.25.

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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.

Earnings History for Broadridge Financial Solutions (NYSE:BR)

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