Broadridge Financial Solutions (BR) Announces Quarterly Earnings Results

Broadridge Financial Solutions (NYSE:BR) posted its quarterly earnings data on Tuesday. The business services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.11, MarketWatch Earnings reports. Broadridge Financial Solutions had a return on equity of 46.83% and a net margin of 10.39%. The company had revenue of $973.00 million during the quarter, compared to analyst estimates of $970.19 million. During the same period in the previous year, the business earned $0.54 EPS. Broadridge Financial Solutions’s quarterly revenue was up 5.2% on a year-over-year basis. Broadridge Financial Solutions updated its FY19 guidance to $4.57 to $4.73 EPS and its FY 2019 guidance to $4.57-4.73 EPS.

BR stock opened at $108.68 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $12.26 billion, a PE ratio of 25.94, a P/E/G ratio of 2.25 and a beta of 0.95. Broadridge Financial Solutions has a 1 year low of $86.80 and a 1 year high of $138.24.

Several equities research analysts have commented on BR shares. SunTrust Banks started coverage on Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Friday, August 10th. Wolfe Research started coverage on Broadridge Financial Solutions in a research note on Tuesday, July 17th. They set a “market perform” rating for the company. Finally, Sandler O’Neill reiterated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $123.40.

In other news, CEO Richard J. Daly sold 210,188 shares of the company’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 value of $27,774,242.32. Following the completion of the sale, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,182,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard J. Daly sold 47,192 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $134.11, for a total value of $6,328,919.12. Following the completion of the sale, the chief executive officer now owns 387,336 shares of the company’s stock, valued at $51,945,630.96. The disclosure for this sale can be found here. Insiders sold 370,080 shares of company stock valued at $48,514,337 over the last 90 days. Company insiders own 2.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Broadridge Financial Solutions by 2.1% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,561 shares of the business services provider’s stock worth $2,251,000 after acquiring an additional 405 shares during the period. Advisor Partners LLC grew its position in Broadridge Financial Solutions by 10.4% in the second quarter. Advisor Partners LLC now owns 4,616 shares of the business services provider’s stock worth $531,000 after acquiring an additional 433 shares during the period. Dakota Wealth Management grew its position in Broadridge Financial Solutions by 23.5% in the third quarter. Dakota Wealth Management now owns 2,473 shares of the business services provider’s stock worth $326,000 after acquiring an additional 470 shares during the period. Mcrae Capital Management Inc. grew its position in Broadridge Financial Solutions by 1.2% in the second quarter. Mcrae Capital Management Inc. now owns 41,605 shares of the business services provider’s stock worth $4,789,000 after acquiring an additional 490 shares during the period. Finally, Oakbrook Investments LLC grew its position in Broadridge Financial Solutions by 11.3% in the second quarter. Oakbrook Investments LLC now owns 4,898 shares of the business services provider’s stock worth $564,000 after acquiring an additional 498 shares during the period. Institutional investors own 84.55% of the company’s stock.

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About Broadridge Financial Solutions

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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Earnings History for Broadridge Financial Solutions (NYSE:BR)

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