Brokerages expect Broadridge Financial Solutions, Inc. (NYSE:BR) to report $922.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Broadridge Financial Solutions’ earnings, with the lowest sales estimate coming in at $920.90 million and the highest estimate coming in at $925.96 million. Broadridge Financial Solutions posted sales of $895.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Broadridge Financial Solutions will report full year sales of $922.62 million for the current year, with estimates ranging from $4.24 billion to $4.25 billion. For the next year, analysts expect that the company will post sales of $4.41 billion per share, with estimates ranging from $4.39 billion to $4.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Broadridge Financial Solutions had a return on equity of 37.99% and a net margin of 7.89%. The company’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 earnings per share.
BR has been the topic of several research analyst reports. BidaskClub upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Barclays PLC boosted their target price on Broadridge Financial Solutions from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Finally, DA Davidson initiated coverage on Broadridge Financial Solutions in a research note on Monday, August 7th. They set a “neutral” rating and a $74.00 target price on the stock. Five analysts have rated the stock with a hold rating, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $74.00.
TRADEMARK VIOLATION NOTICE: “$922.62 Million in Sales Expected for Broadridge Financial Solutions, Inc. (BR) This Quarter” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/09/16/922-62-million-in-sales-expected-for-broadridge-financial-solutions-inc-br-this-quarter.html.
Broadridge Financial Solutions (BR) opened at 79.16 on Friday. The company has a market capitalization of $9.22 billion, a P/E ratio of 29.32 and a beta of 0.97. Broadridge Financial Solutions has a one year low of $59.86 and a one year high of $80.48. The stock’s 50 day moving average price is $76.94 and its 200-day moving average price is $73.16.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.84%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s payout ratio is currently 53.48%.
In other news, insider Adam D. Amsterdam sold 17,813 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the completion of the transaction, the insider now owns 20,646 shares of the company’s stock, valued at approximately $1,588,916.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the transaction, the director now directly owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $108,000. Toronto Dominion Bank raised its holdings in Broadridge Financial Solutions by 11.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after purchasing an additional 149 shares during the period. Global X Management Co. LLC raised its holdings in Broadridge Financial Solutions by 8.5% in the 2nd quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after purchasing an additional 120 shares during the period. Advisory Services Network LLC raised its holdings in Broadridge Financial Solutions by 82.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after purchasing an additional 706 shares during the period. Finally, Commonwealth Bank of Australia raised its holdings in Broadridge Financial Solutions by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after purchasing an additional 600 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.