DA Davidson Equities Analysts Reduce Earnings Estimates for Broadridge Financial Solutions (BR)

Broadridge Financial Solutions (NYSE:BR) – Stock analysts at DA Davidson cut their Q1 2019 earnings estimates for Broadridge Financial Solutions in a research note issued to investors on Wednesday, April 11th, Zacks Investment Research reports. DA Davidson analyst P. Heckmann now forecasts that the business services provider will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.59. DA Davidson currently has a “Neutral” rating and a $92.00 target price on the stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ FY2020 earnings at $4.74 EPS.

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

Several other research analysts have also commented on BR. Sandler O’Neill set a $95.00 price target on Broadridge Financial Solutions and gave the stock a “hold” rating in a research report on Thursday, February 8th. ValuEngine upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Broadridge Financial Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Finally, Barclays increased their price objective on 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $100.25.

BR opened at $110.96 on Friday. Broadridge Financial Solutions has a 52 week low of $68.09 and a 52 week high of $112.59. The firm has a market cap of $13,030.27, a PE ratio of 35.45, a PEG ratio of 2.77 and a beta of 0.85. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 15th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Wednesday, March 14th. Broadridge Financial Solutions’s payout ratio is currently 46.65%.

In other Broadridge Financial Solutions news, Director Leslie A. Brun sold 7,058 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $95.24, for a total value of $672,203.92. Following the sale, the director now directly owns 37,846 shares in the company, valued at $3,604,453.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam D. Amsterdam sold 19,600 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $99.36, for a total value of $1,947,456.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,743 shares of company stock worth $15,985,048. Insiders own 2.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Broadridge Financial Solutions by 6.3% in 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 in the last quarter. Atlanta Capital Management Co. L L C raised its stake in Broadridge Financial Solutions by 2.4% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 2,594,845 shares of the business services provider’s stock valued at $235,041,000 after buying an additional 61,117 shares in the last quarter. Deutsche Bank AG raised its stake in Broadridge Financial Solutions by 38.1% in 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 in the last quarter. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,181,398 shares of the business services provider’s stock valued at $106,961,000 after buying an additional 49,353 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Broadridge Financial Solutions by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,180,392 shares of the business services provider’s stock valued at $106,919,000 after buying an additional 18,901 shares in the last quarter. Institutional investors own 84.54% of the company’s stock.

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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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