Broadridge Financial Solutions (NYSE:BR) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

BR has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a hold rating to a buy rating and set a $131.00 target price for the company in a research report on Friday, May 10th. SunTrust Banks upped their target price on shares of Broadridge Financial Solutions from $130.00 to $150.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Raymond James lowered shares of Broadridge Financial Solutions from an outperform rating to a market perform rating in a research report on Wednesday, July 31st. Finally, DA Davidson lowered shares of Broadridge Financial Solutions from a buy rating to a neutral rating and set a $128.00 target price for the company. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Broadridge Financial Solutions currently has an average rating of Hold and a consensus target price of $129.33.

Shares of NYSE:BR traded down $4.27 during midday trading on Thursday, reaching $123.46. 7,360 shares of the company were exchanged, compared to its average volume of 568,123. The company has a current ratio of 1.30, a quick ratio of 1.70 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average is $131.29. Broadridge Financial Solutions has a one year low of $91.34 and a one year high of $138.24. The firm has a market capitalization of $14.83 billion, a PE ratio of 27.41, a PEG ratio of 2.50 and a beta of 0.72.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, August 1st. The business services provider reported $1.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.72. Broadridge Financial Solutions had a net margin of 11.05% and a return on equity of 46.61%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Broadridge Financial Solutions will post 5.11 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be given a dividend of $0.54 per share. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.75%.

In other Broadridge Financial Solutions news, 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 transaction of $461,086.25. Following the completion of the transaction, the vice president now owns 5,988 shares in the company, valued at $712,512.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Douglas Richard Deschutter sold 13,167 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $122.50, for a total transaction of $1,612,957.50. Following the transaction, the vice president now owns 103,849 shares of the company’s stock, valued at approximately $12,721,502.50. The disclosure for this sale can be found here. Insiders have sold 190,149 shares of company stock valued at $23,659,712 in the last quarter. 2.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC lifted its position in Broadridge Financial Solutions by 14.1% during the second quarter. Copeland Capital Management LLC now owns 111,523 shares of the business services provider’s stock valued at $14,239,000 after purchasing an additional 13,793 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Broadridge Financial Solutions by 5.8% during the first quarter. First Citizens Bank & Trust Co. now owns 14,805 shares of the business services provider’s stock valued at $1,535,000 after purchasing an additional 807 shares during the last quarter. Raymond James & Associates lifted its position in Broadridge Financial Solutions by 3.2% during the first quarter. Raymond James & Associates now owns 313,156 shares of the business services provider’s stock valued at $32,472,000 after purchasing an additional 9,726 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Broadridge Financial Solutions by 586.4% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 134,740 shares of the business services provider’s stock valued at $13,971,000 after purchasing an additional 115,109 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in Broadridge Financial Solutions by 218,190.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 21,829 shares of the business services provider’s stock valued at $3,300,000 after purchasing an additional 21,819 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

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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Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

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