Broadridge Financial Solutions (NYSE:BR) Releases FY 2024 Earnings Guidance

Broadridge Financial Solutions (NYSE:BR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.710-7.710 for the period, compared to the consensus estimate of 7.740. The company issued revenue guidance of -.

Broadridge Financial Solutions Trading Down 5.6 %

BR stock traded down $11.26 during midday trading on Wednesday, hitting $190.10. 288,007 shares of the company’s stock were exchanged, compared to its average volume of 490,514. Broadridge Financial Solutions has a 1-year low of $144.54 and a 1-year high of $210.24. The business has a 50-day simple moving average of $200.29 and a two-hundred day simple moving average of $195.66. The stock has a market capitalization of $22.39 billion, a PE ratio of 33.18 and a beta of 0.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Broadridge Financial Solutions will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BR. Evercore ISI reiterated an outperform rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a report on Friday, February 2nd. Raymond James boosted their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. DA Davidson reaffirmed a neutral rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, StockNews.com raised Broadridge Financial Solutions from a hold rating to a buy rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of Moderate Buy and a consensus target price of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 25,761 shares of company stock worth $5,223,959 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.