Rosenblatt Securities Begins Coverage on Broadridge Financial Solutions (BR)

Equities research analysts at Rosenblatt Securities initiated coverage on shares of Broadridge Financial Solutions (NYSE:BR) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating and a $110.00 price target on the business services provider’s stock. Rosenblatt Securities’ price target suggests a potential upside of 9.21% from the company’s current price.

Several other research firms have also recently commented on BR. SunTrust Banks began coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, August 29th. They set a “buy” rating and a $150.00 price target on the stock. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, August 10th. Finally, Sandler O’Neill reissued a “hold” rating and set a $130.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, August 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $118.33.

BR opened at $100.72 on Wednesday. Broadridge Financial Solutions has a one year low of $87.51 and a one year high of $138.24. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.93. The company has a market cap of $12.04 billion, a PE ratio of 23.22, a P/E/G ratio of 2.21 and a beta of 0.91.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.11. Broadridge Financial Solutions had a net margin of 10.39% and a return on equity of 46.83%. The business had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $970.19 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Broadridge Financial Solutions’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadridge Financial Solutions will post 4.68 EPS for the current fiscal year.

In related news, CEO Richard J. Daly sold 210,188 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $132.14, for a total value of $27,774,242.32. Following the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,182,579.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Daly sold 67,974 shares of the 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 transaction, the chief executive officer now owns 233,673 shares in the company, valued at $29,585,338.53. The disclosure for this sale can be found here. Insiders sold 334,256 shares of company stock worth $43,588,422 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $106,000. Fort L.P. acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth $120,000. Signaturefd LLC raised its holdings 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 acquiring an additional 562 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $129,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth $154,000. Institutional investors own 84.75% of the company’s stock.

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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