$922.62 Million in Sales Expected for Broadridge Financial Solutions, Inc. (BR) This Quarter

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.

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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.

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

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