Wall Street brokerages expect Broadridge Financial Solutions, Inc. (NYSE:BR) to post earnings per share of $1.54 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Broadridge Financial Solutions’ earnings, with estimates ranging from $1.46 to $1.69. Broadridge Financial Solutions reported earnings of $1.00 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 54%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year earnings of $4.61 per share for the current fiscal year, with EPS estimates ranging from $4.57 to $4.66. For the next year, analysts forecast that the business will report earnings of $5.06 per share, with EPS estimates ranging from $5.04 to $5.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.15). The business had revenue of $953.40 million for the quarter, compared to the consensus estimate of $967.21 million. Broadridge Financial Solutions had a return on equity of 43.95% and a net margin of 10.25%. Broadridge Financial Solutions’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS.
BR stock opened at $103.61 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.62 and a quick ratio of 1.62. Broadridge Financial Solutions has a 12 month low of $91.34 and a 12 month high of $138.24. The company has a market capitalization of $11.62 billion, a PE ratio of 24.73, a PEG ratio of 2.18 and a beta of 0.84.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.87%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 46.30%.
In other news, Director Alan J. Weber sold 1,980 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total value of $198,712.80. Following the completion of the transaction, the director now directly owns 51,588 shares in the company, valued at $5,177,371.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BR. Comerica Bank raised its stake in Broadridge Financial Solutions by 5.9% in the third quarter. Comerica Bank now owns 55,702 shares of the business services provider’s stock valued at $6,511,000 after purchasing an additional 3,116 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $2,349,000. Gulf International Bank UK Ltd raised its stake in Broadridge Financial Solutions by 2.6% in the third quarter. Gulf International Bank UK Ltd now owns 38,810 shares of the business services provider’s stock valued at $5,120,000 after purchasing an additional 1,000 shares in the last quarter. Pendal Group Ltd purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $1,511,000. Finally, Penserra Capital Management LLC raised its stake in Broadridge Financial Solutions by 238.1% in the third quarter. Penserra Capital Management LLC now owns 17,659 shares of the business services provider’s stock valued at $2,329,000 after purchasing an additional 12,436 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.
About Broadridge Financial Solutions
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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