Equities research analysts forecast that Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) will post $1.67 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Broadridge Financial Solutions’ earnings, with estimates ranging from $1.65 billion to $1.69 billion. Broadridge Financial Solutions reported sales of $1.53 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year sales of $5.66 billion for the current financial year, with estimates ranging from $5.63 billion to $5.68 billion. For the next financial year, analysts expect that the company will report sales of $5.95 billion, with estimates ranging from $5.85 billion to $6.12 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR – Get Rating) last announced its earnings results on Tuesday, May 3rd. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.16. Broadridge Financial Solutions had a net margin of 9.99% and a return on equity of 39.83%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Broadridge Financial Solutions’s revenue was up 10.4% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Thursday, February 3rd. StockNews.com assumed coverage on shares of Broadridge Financial Solutions in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.50.
A number of hedge funds and other institutional investors have recently modified their holdings of BR. Norges Bank acquired a new position in Broadridge Financial Solutions during the 4th quarter worth about $193,556,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Broadridge Financial Solutions by 156.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,268,126 shares of the business services provider’s stock valued at $211,321,000 after purchasing an additional 774,130 shares during the period. Morgan Stanley lifted its position in Broadridge Financial Solutions by 78.0% during the 3rd quarter. Morgan Stanley now owns 1,118,338 shares of the business services provider’s stock valued at $186,361,000 after purchasing an additional 490,211 shares during the period. Parnassus Investments LLC lifted its position in Broadridge Financial Solutions by 40.8% during the 1st quarter. Parnassus Investments LLC now owns 1,322,327 shares of the business services provider’s stock valued at $205,900,000 after purchasing an additional 383,145 shares during the period. Finally, BlackRock Inc. lifted its position in Broadridge Financial Solutions by 3.1% during the 4th quarter. BlackRock Inc. now owns 9,566,678 shares of the business services provider’s stock valued at $1,748,981,000 after purchasing an additional 283,501 shares during the period. Institutional investors and hedge funds own 87.01% of the company’s stock.
Shares of BR stock opened at $146.80 on Tuesday. Broadridge Financial Solutions has a 1 year low of $132.68 and a 1 year high of $185.40. The firm’s fifty day simple moving average is $148.37 and its 200 day simple moving average is $157.20. The firm has a market capitalization of $17.21 billion, a P/E ratio of 31.50 and a beta of 0.95. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.29.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Wednesday, June 15th will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, June 14th. This represents a $2.56 annualized dividend and a yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 54.94%.
About Broadridge Financial Solutions (Get Rating)
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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