$1.24 Billion in Sales Expected for Broadridge Financial Solutions, Inc. (BR) This Quarter

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Analysts expect Broadridge Financial Solutions, Inc. (NYSE:BR) to post $1.24 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Broadridge Financial Solutions’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.21 billion. Broadridge Financial Solutions posted sales of $1.32 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.1%. The company is expected to issue its next quarterly earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Broadridge Financial Solutions will report full-year sales of $4.39 billion for the current year, with estimates ranging from $4.37 billion to $4.44 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.57 billion, with estimates ranging from $4.52 billion to $4.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Broadridge Financial Solutions.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue was up 14.3% on a year-over-year basis.

Several equities analysts recently issued reports on BR shares. DA Davidson raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a report on Friday, February 8th. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Wednesday, April 10th. SunTrust Banks lifted their price target on shares of Broadridge Financial Solutions to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Raymond James raised shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a report on Wednesday, March 13th. Finally, ValuEngine raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Broadridge Financial Solutions presently has a consensus rating of “Buy” and a consensus price target of $124.50.

Shares of Broadridge Financial Solutions stock opened at $121.64 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.93. Broadridge Financial Solutions has a twelve month low of $91.34 and a twelve month high of $138.24. The stock has a market cap of $14.13 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 46.30%.

In related news, Director Alan J. Weber sold 1,980 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total transaction of $198,712.80. Following the completion of the sale, the director now directly owns 51,588 shares of the company’s stock, valued at $5,177,371.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert Schifellite sold 37,818 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $122.77, for a total transaction of $4,642,915.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,055 shares of company stock valued at $7,047,889. Insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BR. Oregon Public Employees Retirement Fund raised its stake in shares of Broadridge Financial Solutions by 8,044.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,178,116 shares of the business services provider’s stock worth $43,000 after buying an additional 4,126,816 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Broadridge Financial Solutions by 17.7% during the first quarter. Janus Henderson Group PLC now owns 7,824,319 shares of the business services provider’s stock worth $811,304,000 after buying an additional 1,177,867 shares during the last quarter. Norges Bank bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $109,008,000. Jensen Investment Management Inc. raised its stake in shares of Broadridge Financial Solutions by 8,174.4% during the first quarter. Jensen Investment Management Inc. now owns 843,157 shares of the business services provider’s stock worth $87,427,000 after buying an additional 832,967 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Broadridge Financial Solutions by 80.3% during the fourth quarter. Deutsche Bank AG now owns 1,501,941 shares of the business services provider’s stock worth $144,559,000 after buying an additional 668,709 shares during the last quarter. 84.80% of the stock is owned by institutional investors and hedge funds.

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 and Estimates for Broadridge Financial Solutions (NYSE:BR)

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