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

Broadridge Financial Solutions (NYSE:BR) posted its quarterly earnings results on Wednesday. The business services provider reported $2.23 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Broadridge Financial Solutions updated its FY 2024 guidance to 7.710-7.710 EPS.

Broadridge Financial Solutions Trading Up 0.3 %

NYSE BR opened at $201.36 on Wednesday. The firm has a market cap of $23.71 billion, a PE ratio of 35.08 and a beta of 0.98. Broadridge Financial Solutions has a 52 week low of $144.54 and a 52 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. The company has a 50 day moving average price of $200.29 and a 200 day moving average price of $195.66.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is currently 55.75%.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,761 shares of company stock valued at $5,223,959. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BR shares. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada raised 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, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

About Broadridge Financial Solutions

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.