Broadridge Financial Solutions (BR) Updates FY19 Earnings Guidance

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Broadridge Financial Solutions (NYSE:BR) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.57 to $4.73 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.67. The company issued revenue guidance of $4.46 billion to $4.55 billion, compared to the consensus revenue estimate of $4.50 billion.Broadridge Financial Solutions also updated its FY 2019 guidance to $4.57-4.73 EPS.

BR stock traded up $3.29 during midday trading on Wednesday, reaching $108.56. 96,377 shares of the stock were exchanged, compared to its average volume of 915,529. The firm has a market capitalization of $13.55 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.49 and a beta of 0.95. Broadridge Financial Solutions has a 52 week low of $86.80 and a 52 week high of $138.24. 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 released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. The firm had revenue of $973.00 million for the quarter, compared to analyst estimates of $970.19 million. During the same quarter in the previous year, the company posted $0.54 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions will post 4.67 EPS for the current fiscal year.

A number of equities research analysts have commented on BR shares. SunTrust Banks started coverage on Broadridge Financial Solutions in a research report on Wednesday, August 29th. They issued a buy rating and a $150.00 price target on the stock. Zacks Investment Research upgraded Broadridge Financial Solutions from a hold rating to a buy rating and set a $145.00 price target on the stock in a research report on Friday, August 10th. Wolfe Research started coverage on 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 target 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. The stock currently has an average rating of Hold and a consensus target price of $123.40.

In other news, CEO Richard J. Daly sold 47,192 shares of the business’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $134.11, for a total value of $6,328,919.12. Following the transaction, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at approximately $51,945,630.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Daly sold 210,188 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $132.14, for a total value of $27,774,242.32. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,182,579.04. The disclosure for this sale can be found here. Insiders sold a total of 370,080 shares of company stock worth $48,514,337 over the last three months. 2.30% of the stock is owned by company insiders.

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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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