Zacks: Analysts Anticipate Broadridge Financial Solutions, Inc. (NYSE:BR) to Announce $1.68 Earnings Per Share

Equities research analysts forecast that Broadridge Financial Solutions, Inc. (NYSE:BR) will post earnings of $1.68 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Broadridge Financial Solutions’ earnings. The highest EPS estimate is $1.70 and the lowest is $1.66. Broadridge Financial Solutions posted earnings per share of $1.45 in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The business is scheduled to issue its next earnings results before the market opens on Thursday, August 10th.

On average, analysts expect that Broadridge Financial Solutions will report full-year earnings of $3.12 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.13. For the next financial year, analysts anticipate that the firm will report earnings of $3.51 per share, with EPS estimates ranging from $3.47 to $3.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Broadridge Financial Solutions.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Broadridge Financial Solutions had a return on equity of 34.74% and a net margin of 8.21%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $997.65 million. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year.

Several equities analysts have recently issued reports on BR shares. BidaskClub cut Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. DA Davidson began coverage on Broadridge Financial Solutions in a research note on Monday. They set a “neutral” rating and a $74.00 target price on the stock. Finally, Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $74.75.

In related news, insider Robert Schifellite sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $72.83, for a total value of $364,150.00. Following the sale, the insider now directly owns 79,167 shares of the company’s stock, valued at $5,765,732.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charles J. Marchesani sold 20,473 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $73.61, for a total value of $1,507,017.53. Following the completion of the sale, the insider now directly owns 32,328 shares in the company, valued at $2,379,664.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,032 shares of company stock worth $24,016,648. 3.50% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its stake in Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after buying an additional 120 shares during the period. Van ECK Associates Corp increased its stake in Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after buying an additional 135 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in Broadridge Financial Solutions by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,176 shares of the business services provider’s stock valued at $202,000 after buying an additional 174 shares during the period. Airain ltd bought a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $204,000. Finally, Penserra Capital Management LLC increased its stake in Broadridge Financial Solutions by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the business services provider’s stock valued at $227,000 after buying an additional 348 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of Broadridge Financial Solutions (BR) traded down 0.71% during trading on Tuesday, hitting $75.06. The company had a trading volume of 360,747 shares. The company’s 50 day moving average is $75.57 and its 200 day moving average is $71.18. Broadridge Financial Solutions has a 1-year low of $59.86 and a 1-year high of $78.00. The firm has a market capitalization of $8.83 billion, a P/E ratio of 29.40 and a beta of 0.99.

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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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