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

Broadridge Financial Solutions (NYSE:BR) released its 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. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $2.05 EPS. Broadridge Financial Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. Broadridge Financial Solutions updated its FY 2024 guidance to 7.710-7.710 EPS.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of NYSE:BR opened at $190.81 on Thursday. The firm’s 50 day moving average price is $200.07 and its 200 day moving average price is $195.62. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 33.18 and a beta of 0.98. Broadridge Financial Solutions has a fifty-two week low of $144.54 and a fifty-two week high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77.

Broadridge Financial Solutions Dividend Announcement

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

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The disclosure for this sale can be found here. Insiders have sold a total of 25,761 shares of company stock valued at $5,223,959 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions 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.