Broadridge Financial Solutions, Inc. (NYSE:BR)‘s stock had its “hold” rating reaffirmed by stock analysts at DA Davidson in a report issued on Thursday, November 9th. They currently have a $86.00 target price on the business services provider’s stock. DA Davidson’s price target points to a potential downside of 5.18% from the company’s previous close. DA Davidson also issued estimates for Broadridge Financial Solutions’ Q2 2018 earnings at $0.64 EPS, FY2018 earnings at $3.74 EPS, Q1 2019 earnings at $0.55 EPS, Q2 2019 earnings at $0.58 EPS and FY2019 earnings at $4.04 EPS.
A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Barclays PLC boosted their target price on shares of Broadridge Financial Solutions from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th.
Shares of Broadridge Financial Solutions (BR) traded up $0.88 on Thursday, hitting $90.70. The stock had a trading volume of 576,500 shares, compared to its average volume of 459,160. Broadridge Financial Solutions has a 12-month low of $63.28 and a 12-month high of $91.75. The company has a market cap of $10,468.75, a PE ratio of 26.97, a P/E/G ratio of 2.42 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The company had revenue of $925.00 million during the quarter, compared to analyst estimates of $923.68 million. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. sell-side analysts forecast that Broadridge Financial Solutions will post 3.72 EPS for the current fiscal year.
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In other news, insider Richard J. Daly sold 94,039 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Broadridge Financial Solutions by 0.7% in the second quarter. BlackRock Inc. now owns 12,134,364 shares of the business services provider’s stock worth $916,871,000 after acquiring an additional 79,827 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Broadridge Financial Solutions by 1,647.4% in the second quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock worth $542,669,000 after buying an additional 6,770,958 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Broadridge Financial Solutions by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 2,438,336 shares of the business services provider’s stock worth $184,239,000 after buying an additional 10,182 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Broadridge Financial Solutions by 3.8% in the third quarter. Principal Financial Group Inc. now owns 1,461,535 shares of the business services provider’s stock worth $118,123,000 after buying an additional 53,439 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Broadridge Financial Solutions by 0.7% in the second quarter. Northern Trust Corp now owns 1,437,887 shares of the business services provider’s stock worth $108,647,000 after buying an additional 10,569 shares during the last quarter. Institutional investors own 83.32% of the company’s stock.
Broadridge Financial Solutions Company Profile
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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