Broadridge Financial Solutions (NYSE:BR) Updates FY 2024 Earnings Guidance

Broadridge Financial Solutions (NYSE:BR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 7.710-7.710 for the period, compared to the consensus earnings per share estimate of 7.740. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a report on Friday, February 2nd. DA Davidson reiterated a neutral rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. StockNews.com upgraded shares of Broadridge Financial Solutions from a hold rating to a buy rating in a research note on Saturday. Raymond James upped their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Finally, Evercore ISI restated an outperform rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of Moderate Buy and an average target price of $206.67.

Broadridge Financial Solutions Stock Performance

BR stock traded down $11.26 during midday trading on Wednesday, hitting $190.10. The stock had a trading volume of 288,007 shares, compared to its average volume of 490,514. Broadridge Financial Solutions has a 52 week low of $144.54 and a 52 week high of $210.24. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The stock has a 50-day simple moving average of $200.29 and a 200 day simple moving average of $195.66. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 33.18 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. Broadridge Financial Solutions’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, equities research analysts anticipate that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is 55.75%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders sold 25,761 shares of company stock worth $5,223,959 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.