Wall Street brokerages expect that Broadridge Financial Solutions, Inc. (NYSE:BR) will post $963.51 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Broadridge Financial Solutions’ earnings. The highest sales estimate is $967.00 million and the lowest is $960.34 million. Broadridge Financial Solutions posted sales of $924.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The firm is expected to issue its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Broadridge Financial Solutions will report full year sales of $4.48 billion for the current year, with estimates ranging from $4.45 billion to $4.50 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.66 billion, with estimates ranging from $4.62 billion to $4.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Broadridge Financial Solutions.
Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.01). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%.
In other Broadridge Financial Solutions news, CEO Richard J. Daly sold 67,974 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $126.61, for a total transaction of $8,606,188.14. Following the completion of the sale, the chief executive officer now directly owns 233,673 shares in the company, valued at $29,585,338.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard J. Daly sold 210,188 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the sale, the chief executive officer now owns 387,336 shares of the company’s stock, valued at $51,182,579.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 370,080 shares of company stock valued at $48,514,337. 2.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bartlett & Co. LLC grew its stake in Broadridge Financial Solutions by 375.0% during the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock worth $109,000 after buying an additional 750 shares during the period. Squar Milner Financial Services LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $109,000. Fort L.P. acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $120,000. Signaturefd LLC lifted its position in shares of Broadridge Financial Solutions by 101.6% during the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock worth $128,000 after purchasing an additional 562 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $154,000. Institutional investors own 84.86% of the company’s stock.
Shares of NYSE:BR traded up $1.62 during trading on Friday, reaching $117.35. The stock had a trading volume of 1,484,222 shares, compared to its average volume of 920,687. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $15.37 billion, a PE ratio of 28.01, a P/E/G ratio of 2.84 and a beta of 0.88. Broadridge Financial Solutions has a fifty-two week low of $82.44 and a fifty-two week high of $138.24.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.65%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, September 17th. Broadridge Financial Solutions’s payout ratio is presently 46.30%.
Broadridge Financial Solutions Company Profile
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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