Broadridge Financial Solutions (NYSE:BR) Posts Earnings Results, Misses Expectations By $0.01 EPS

Broadridge Financial Solutions (NYSE:BR) issued its quarterly earnings results on Wednesday. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01), Briefing.com reports. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. Broadridge Financial Solutions updated its FY 2024 guidance to 7.710-7.710 EPS.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded up $2.00 during trading on Friday, reaching $195.06. The company’s stock had a trading volume of 109,446 shares, compared to its average volume of 494,439. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a market cap of $22.97 billion, a PE ratio of 33.63 and a beta of 0.98. Broadridge Financial Solutions has a 52 week low of $144.54 and a 52 week high of $210.24. The business’s 50-day moving average price is $199.85 and its 200-day moving average price is $195.61.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the sale, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Insiders have sold 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Raymond James increased their price objective 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. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Evercore ISI reiterated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. DA Davidson reissued a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.67.

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.