Broadridge Financial Solutions, Inc. (NYSE:BR) – Research analysts at DA Davidson dropped their Q1 2019 earnings per share (EPS) estimates for Broadridge Financial Solutions in a research report issued on Wednesday, April 11th. DA Davidson analyst P. Heckmann now expects that the business services provider will post earnings per share of $0.55 for the quarter, down from their prior forecast of $0.59. DA Davidson has a “Neutral” rating and a $92.00 price objective on the stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ FY2020 earnings at $4.74 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Sandler O’Neill reiterated a “hold” rating and issued a $101.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, February 15th. Finally, Barclays increased their target price on shares of Broadridge Financial Solutions from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $100.25.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.21. Broadridge Financial Solutions had a net margin of 8.74% and a return on equity of 44.02%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $945.80 million. During the same period in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of BR. Dimensional Fund Advisors LP raised its position in Broadridge Financial Solutions by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 553,304 shares of the business services provider’s stock worth $44,717,000 after purchasing an additional 3,986 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Broadridge Financial Solutions in the third quarter worth about $420,000. Stifel Financial Corp raised its position in Broadridge Financial Solutions by 1.1% in the third quarter. Stifel Financial Corp now owns 62,328 shares of the business services provider’s stock worth $5,031,000 after purchasing an additional 703 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 11.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 15,435 shares of the business services provider’s stock worth $1,247,000 after purchasing an additional 1,600 shares in the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in Broadridge Financial Solutions in the third quarter worth about $218,000. 84.63% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Richard J. Daly sold 26,000 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $107.44, for a total value of $2,793,440.00. Following the completion of the transaction, the chief executive officer now owns 337,845 shares of the company’s stock, valued at $36,298,066.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie A. Brun sold 7,058 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $95.24, for a total transaction of $672,203.92. Following the completion of the transaction, the director now directly owns 37,846 shares of the company’s stock, valued at approximately $3,604,453.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,743 shares of company stock valued at $15,985,048. 2.60% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Thursday, March 15th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, March 14th. Broadridge Financial Solutions’s payout ratio is presently 46.65%.
About Broadridge Financial Solutions
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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