DA Davidson began coverage on shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in a research note published on Monday, August 7th, Marketbeat Ratings reports. The firm issued a neutral rating and a $74.00 target price on the business services provider’s stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ Q4 2017 earnings at $1.76 EPS, FY2017 earnings at $3.20 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.76 EPS, Q4 2018 earnings at $1.81 EPS and FY2018 earnings at $3.56 EPS.
BR has been the subject of a number of other research reports. BidaskClub cut shares of Broadridge Financial Solutions from a buy rating to a hold rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Broadridge Financial Solutions from a sell rating to a hold rating in a research note on Monday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $76.00.
Shares of Broadridge Financial Solutions (NYSE:BR) traded down 0.21% on Monday, hitting $76.30. The stock had a trading volume of 614,791 shares. The firm has a market cap of $8.89 billion, a P/E ratio of 28.26 and a beta of 0.99. The firm’s 50-day moving average price is $75.41 and its 200 day moving average price is $71.81. Broadridge Financial Solutions has a 12 month low of $59.86 and a 12 month high of $78.00.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, August 10th. The business services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Broadridge Financial Solutions had a net margin of 7.89% and a return on equity of 37.99%. The company’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 earnings per share. Analysts anticipate that Broadridge Financial Solutions will post $3.71 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.365 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.33. Broadridge Financial Solutions’s payout ratio is currently 48.35%.
In related news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the completion of the sale, the director now owns 39,747 shares of the company’s stock, valued at approximately $3,043,825.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles J. Marchesani sold 20,473 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $73.61, for a total transaction of $1,507,017.53. Following the sale, the insider now directly owns 32,328 shares of the company’s stock, valued at approximately $2,379,664.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,334 shares of company stock valued at $18,844,203. 3.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at about $108,000. Toronto Dominion Bank boosted its stake in shares of Broadridge Financial Solutions by 11.4% in the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after buying an additional 149 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after buying an additional 120 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Broadridge Financial Solutions by 82.8% in the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after buying an additional 706 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after buying an additional 600 shares during the period. 85.18% of the stock is owned by institutional investors.
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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