Zacks: Brokerages Expect Broadridge Financial Solutions, Inc. (NYSE:BR) Will Post Earnings of $0.72 Per Share

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Brokerages expect Broadridge Financial Solutions, Inc. (NYSE:BR) to announce earnings per share of $0.72 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Broadridge Financial Solutions’ earnings. The highest EPS estimate is $0.73 and the lowest is $0.70. Broadridge Financial Solutions reported earnings of $0.79 per share in the same quarter last year, which would suggest a negative year over year growth rate of 8.9%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Broadridge Financial Solutions will report full year earnings of $5.12 per share for the current year, with EPS estimates ranging from $5.11 to $5.13. For the next financial year, analysts anticipate that the business will post earnings of $5.59 per share, with EPS estimates ranging from $5.57 to $5.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Broadridge Financial Solutions.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.72. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Broadridge Financial Solutions had a net margin of 11.05% and a return on equity of 46.61%. Broadridge Financial Solutions’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share.

A number of equities research analysts recently weighed in on BR shares. SunTrust Banks raised their target price on shares of Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Raymond James downgraded shares of Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 31st. Finally, ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $129.20.

BR traded up $1.53 on Wednesday, reaching $121.10. The company had a trading volume of 10,783 shares, compared to its average volume of 797,447. The business has a 50 day simple moving average of $126.61 and a 200 day simple moving average of $123.48. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 2.40 and a beta of 0.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.30 and a current ratio of 1.30. Broadridge Financial Solutions has a 52-week low of $91.34 and a 52-week high of $136.99.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a dividend yield of 1.78%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 46.35%.

In related news, Chairman Richard J. Daly sold 55,481 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $126.67, for a total value of $7,027,778.27. Following the sale, the chairman now owns 272,180 shares in the company, valued at $34,477,040.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stuart R. Levine sold 25,260 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $126.27, for a total transaction of $3,189,580.20. Following the completion of the sale, the director now owns 47,886 shares in the company, valued at approximately $6,046,565.22. The disclosure for this sale can be found here. Insiders have sold 317,133 shares of company stock worth $39,829,477 over the last three months. Insiders own 2.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. grew its position in shares of Broadridge Financial Solutions by 35.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 348 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 92 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Broadridge Financial Solutions by 1.0% during the 1st quarter. Advisory Services Network LLC now owns 11,964 shares of the business services provider’s stock worth $1,239,000 after buying an additional 118 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 3.4% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,621 shares of the business services provider’s stock worth $462,000 after buying an additional 118 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in shares of Broadridge Financial Solutions by 2.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 4,499 shares of the business services provider’s stock worth $574,000 after buying an additional 118 shares during the period. Finally, Hartford Investment Management Co. boosted its holdings in shares of Broadridge Financial Solutions by 1.0% during the 2nd quarter. Hartford Investment Management Co. now owns 12,816 shares of the business services provider’s stock worth $1,636,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 88.33% of the company’s stock.

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.

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

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