Broadridge Financial Solutions (NYSE:BR) Announces Quarterly Earnings Results

Broadridge Financial Solutions (NYSE:BR) announced its earnings results on Thursday. The business services provider reported $1.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.72, Morningstar.com reports. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Broadridge Financial Solutions had a return on equity of 48.71% and a net margin of 11.31%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 EPS. Broadridge Financial Solutions updated its FY 2020 guidance to $5.03-5.22 EPS.

NYSE BR traded down $0.74 during midday trading on Friday, hitting $127.73. 752,883 shares of the company traded hands, compared to its average volume of 512,643. Broadridge Financial Solutions has a 52 week low of $91.34 and a 52 week high of $138.24. The firm has a 50-day simple moving average of $131.29. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $14.76 billion, a P/E ratio of 26.48, a PEG ratio of 2.49 and a beta of 0.72.

In other news, VP Douglas Richard Deschutter sold 13,167 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $122.50, for a total transaction of $1,612,957.50. Following the completion of the sale, the vice president now owns 103,849 shares in the company, valued at approximately $12,721,502.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Laura Matlin sold 3,875 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $118.99, for a total value of $461,086.25. Following the sale, the vice president now owns 5,988 shares of the company’s stock, valued at approximately $712,512.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,149 shares of company stock valued at $23,659,712. Company insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Broadridge Financial Solutions by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 7,824,319 shares of the business services provider’s stock valued at $811,304,000 after purchasing an additional 1,177,867 shares during the last quarter. Jensen Investment Management Inc. raised its stake in Broadridge Financial Solutions by 39.0% in the 2nd quarter. Jensen Investment Management Inc. now owns 1,171,813 shares of the business services provider’s stock worth $149,617,000 after acquiring an additional 328,656 shares during the last quarter. Norges Bank purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $109,008,000. Artisan Partners Limited Partnership raised its stake in Broadridge Financial Solutions by 30.6% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,077,671 shares of the business services provider’s stock worth $111,744,000 after acquiring an additional 252,234 shares during the last quarter. Finally, Swiss National Bank raised its stake in Broadridge Financial Solutions by 2.9% in the 1st quarter. Swiss National Bank now owns 866,600 shares of the business services provider’s stock worth $89,858,000 after acquiring an additional 24,300 shares during the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.

Several analysts have issued reports on BR shares. Raymond James cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday. SunTrust Banks increased their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. DA Davidson cut Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 target price on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. ValuEngine cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $129.33.

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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