Broadridge Financial Solutions (BR) Stock Rating Upgraded by DA Davidson

DA Davidson upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat.com reports. They currently have $116.00 target price on the business services provider’s stock.

Several other research firms have also recently issued reports on BR. Zacks Investment Research reissued a buy rating and set a $128.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, November 12th. Rosenblatt Securities assumed coverage on Broadridge Financial Solutions in a research note on Wednesday, December 5th. They set a neutral rating and a $110.00 target price on the stock. Finally, SunTrust Banks reissued a buy rating and set a $110.00 target price on shares of Broadridge Financial Solutions in a research note on Sunday, January 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Broadridge Financial Solutions presently has an average rating of Hold and a consensus target price of $118.80.

Shares of BR stock opened at $98.31 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.06. Broadridge Financial Solutions has a fifty-two week low of $91.34 and a fifty-two week high of $138.24. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 2.10 and a beta of 0.84.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The company had revenue of $953.40 million during the quarter, compared to the consensus estimate of $967.21 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts predict that Broadridge Financial Solutions will post 4.65 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Friday, March 15th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 1.97%. Broadridge Financial Solutions’s payout ratio is 46.30%.

In related news, Director Stuart R. Levine sold 8,902 shares of the company’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $98.75, for a total value of $879,072.50. Following the sale, the director now directly owns 36,530 shares of the company’s stock, valued at $3,607,337.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Whittier Trust Co. grew its stake in Broadridge Financial Solutions by 117.3% in the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock worth $28,000 after purchasing an additional 156 shares during the period. CX Institutional purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth $41,000. Oregon Public Employees Retirement Fund grew its stake in Broadridge Financial Solutions by 8,044.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,178,116 shares of the business services provider’s stock worth $43,000 after purchasing an additional 4,126,816 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth $52,000. Finally, Quantamental Technologies LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth $79,000. 87.11% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

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