Donnelley Financial Solutions (NYSE:DFIN) Reaches New 52-Week High on Strong Earnings

Donnelley Financial Solutions (NYSE:DFIN)’s stock price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $61.06 and last traded at $59.0860, with a volume of 32,968 shares changing hands. The stock had previously closed at $53.12.

The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.23. Donnelley Financial Solutions had a net margin of 4.53% and a return on equity of 25.82%. The business had revenue of $185.00 million for the quarter, compared to analysts’ expectations of $179.90 million. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DFIN shares. Weiss Ratings upgraded shares of Donnelley Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Zacks Research downgraded Donnelley Financial Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Donnelley Financial Solutions in a research note on Monday, September 21st. Finally, Wall Street Zen downgraded Donnelley Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Insiders Place Their Bets

In other Donnelley Financial Solutions news, Director Joseph Leo Binz purchased 5,780 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of $47.75 per share, with a total value of $275,995.00. Following the transaction, the director owned 24,704 shares in the company, valued at approximately $1,179,616. This trade represents a 30.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Donnelley Financial Solutions by 109.4% during the first quarter. Blue Trust Inc. now owns 643 shares of the company’s stock valued at $30,000 after acquiring an additional 336 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Donnelley Financial Solutions by 330.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 650 shares of the company’s stock valued at $31,000 after purchasing an additional 499 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Donnelley Financial Solutions during the 2nd quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new stake in Donnelley Financial Solutions during the 3rd quarter worth approximately $35,000. Finally, Sterling Capital Management LLC increased its holdings in Donnelley Financial Solutions by 310.5% during the 3rd quarter. Sterling Capital Management LLC now owns 743 shares of the company’s stock worth $35,000 after purchasing an additional 562 shares during the last quarter. Institutional investors and hedge funds own 93.84% of the company’s stock.

Donnelley Financial Solutions Stock Performance

The stock has a 50-day simple moving average of $49.42 and a 200-day simple moving average of $47.23. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 40.80 and a beta of 0.75. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51.

About Donnelley Financial Solutions

Donnelley Financial Solutions, Inc (NYSE: DFIN) provides software, technology-enabled services and communications solutions that help public and private companies, investment firms, financial institutions and other organizations meet regulatory, compliance and reporting requirements.

The company’s offerings include cloud-based disclosure and compliance software, filing and reporting services, regulatory data management, virtual data rooms and solutions for capital markets transactions.