Broadridge Financial Solutions, Inc. (BR) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Broadridge Financial Solutions, Inc. (NYSE:BR) from a hold rating to a buy rating in a research report report published on Tuesday morning.
A number of other equities analysts have also recently issued reports on BR. DA Davidson began coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They issued a neutral rating and a $74.00 target price for the company. BidaskClub cut Broadridge Financial Solutions from a hold rating to a sell rating in a report on Saturday, August 12th. Finally, Barclays PLC upped their target price on Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an equal weight rating in a report on Thursday, November 9th.
Broadridge Financial Solutions (NYSE BR) opened at $89.25 on Tuesday. Broadridge Financial Solutions has a fifty-two week low of $63.28 and a fifty-two week high of $91.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market capitalization of $10,340.00, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Broadridge Financial Solutions had a return on equity of 40.17% and a net margin of 8.22%. The business had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $923.68 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts forecast that Broadridge Financial Solutions will post 3.72 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.64%. Broadridge Financial Solutions’s payout ratio is 51.05%.
In related news, insider Richard J. Daly sold 94,039 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam D. Amsterdam sold 17,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $76.96, for a total value of $1,370,888.48. Following the sale, the insider now directly owns 20,646 shares of the company’s stock, valued at approximately $1,588,916.16. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BR. Acrospire Investment Management LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $108,000. Toronto Dominion Bank grew its stake in Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock worth $110,000 after purchasing an additional 149 shares during the period. Global X Management Co. LLC grew its stake in Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock worth $116,000 after purchasing an additional 120 shares during the period. Advisory Services Network LLC grew its stake in Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock worth $118,000 after purchasing an additional 706 shares during the period. Finally, Commonwealth Bank of Australia grew its stake in Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock worth $120,000 after purchasing an additional 600 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.
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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