Broadridge Financial Solutions, Inc. (NYSE:BR) has been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $126.00.
A number of brokerages have weighed in on BR. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Wednesday, April 10th. SunTrust Banks raised their price objective on Broadridge Financial Solutions to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. DA Davidson raised their price objective on Broadridge Financial Solutions to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Raymond James raised Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a research report on Wednesday, March 13th. Finally, ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 17th.
Shares of NYSE BR traded down $0.38 during midday trading on Tuesday, reaching $128.06. 604,915 shares of the stock were exchanged, compared to its average volume of 895,767. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. Broadridge Financial Solutions has a twelve month low of $91.34 and a twelve month high of $138.24. The firm has a 50-day moving average price of $125.11. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.93.
Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, May 7th. The business services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. On average, analysts forecast that Broadridge Financial Solutions will post 4.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.
In other Broadridge Financial Solutions news, insider Robert F. Kalenka sold 8,000 shares of Broadridge Financial Solutions stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.58, for a total value of $1,060,640.00. Following the completion of the transaction, the insider now directly owns 28,986 shares of the company’s stock, valued at approximately $3,842,963.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie A. Brun sold 7,500 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $121.71, for a total value of $912,825.00. Following the completion of the transaction, the director now directly owns 30,101 shares of the company’s stock, valued at $3,663,592.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,484 shares of company stock valued at $21,100,079. 2.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sepio Capital LLC lifted its stake in Broadridge Financial Solutions by 5.9% during the first quarter. Sepio Capital LLC now owns 6,482 shares of the business services provider’s stock worth $672,000 after purchasing an additional 364 shares during the last quarter. FMR LLC increased its holdings in shares of Broadridge Financial Solutions by 296.2% in the first quarter. FMR LLC now owns 750,883 shares of the business services provider’s stock valued at $77,860,000 after purchasing an additional 561,363 shares during the period. Horizon Investments LLC acquired a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $200,000. Cleararc Capital Inc. acquired a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $290,000. Finally, Advisory Services Network LLC increased its holdings in shares of Broadridge Financial Solutions by 1.0% in the first quarter. Advisory Services Network LLC now owns 11,964 shares of the business services provider’s stock valued at $1,239,000 after purchasing an additional 118 shares during the period. 83.96% of the stock is 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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