Wall Street brokerages predict that Broadridge Financial Solutions, Inc. (NYSE:BR) will announce earnings of $1.68 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Broadridge Financial Solutions’ earnings, with the lowest EPS estimate coming in at $1.66 and the highest estimate coming in at $1.70. Broadridge Financial Solutions posted earnings per share of $1.45 during the same quarter last year, which indicates a positive year-over-year growth rate of 15.9%. The company is expected to report its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year earnings of $3.12 per share for the current year, with EPS estimates ranging from $3.10 to $3.13. For the next financial year, analysts anticipate that the firm will post earnings of $3.49 per share, with EPS estimates ranging from $3.47 to $3.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, May 10th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $997.65 million. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. Broadridge Financial Solutions’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS.
Separately, Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, March 21st.
In related news, VP Laura Matlin sold 630 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $71.89, for a total value of $45,290.70. Following the completion of the sale, the vice president now owns 5,271 shares in the company, valued at $378,932.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Schifellite sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $72.83, for a total transaction of $364,150.00. Following the completion of the sale, the insider now owns 79,167 shares of the company’s stock, valued at approximately $5,765,732.61. The disclosure for this sale can be found here. Insiders have sold 323,032 shares of company stock valued at $24,016,648 in the last quarter. Insiders own 3.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in shares of Broadridge Financial Solutions by 0.8% in the fourth quarter. Van ECK Associates Corp now owns 1,679 shares of the business services provider’s stock worth $111,000 after buying an additional 14 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock worth $202,000 after buying an additional 174 shares during the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 16.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,384 shares of the business services provider’s stock worth $230,000 after buying an additional 478 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Broadridge Financial Solutions during the first quarter worth approximately $233,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Broadridge Financial Solutions by 13.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,450 shares of the business services provider’s stock worth $234,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.
Broadridge Financial Solutions (BR) traded up 0.30% on Friday, reaching $76.44. The company’s stock had a trading volume of 477,823 shares. Broadridge Financial Solutions has a 52 week low of $59.86 and a 52 week high of $78.00. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 29.94 and a beta of 1.00. The company has a 50 day moving average of $73.59 and a 200 day moving average of $69.04.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.73%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 51.56%.
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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