Broadridge Financial Solutions, Inc. (BR) Receives Average Rating of “Hold” from Brokerages

Broadridge Financial Solutions, Inc. (NYSE:BR) has received an average rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $116.50.

A number of brokerages have weighed in on BR. Zacks Investment Research reaffirmed a “buy” rating and issued a $128.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, November 12th. Rosenblatt Securities began coverage on shares of Broadridge Financial Solutions in a research note on Wednesday, December 5th. They issued a “neutral” rating and a $110.00 target price for the company. DA Davidson raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Friday, February 8th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $110.00 target price on shares of Broadridge Financial Solutions in a research note on Sunday, January 6th.

BR stock traded up $0.54 during trading on Wednesday, hitting $99.92. 4,817 shares of the stock traded hands, compared to its average volume of 853,305. Broadridge Financial Solutions has a one year low of $91.34 and a one year high of $138.24. The company has a market capitalization of $11.50 billion, a P/E ratio of 23.85, a P/E/G ratio of 2.10 and a beta of 0.84. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The firm had revenue of $953.40 million for the quarter, compared to the consensus estimate of $967.21 million. During the same period in the prior year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts expect that Broadridge Financial Solutions will post 4.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 46.30%.

In other news, Director Stuart R. Levine sold 8,902 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total transaction of $879,072.50. Following the completion of the sale, the director now owns 36,530 shares in the company, valued at approximately $3,607,337.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Several large investors have recently modified their holdings of BR. Oregon Public Employees Retirement Fund grew its position in shares of Broadridge Financial Solutions by 8,044.5% during the 4th 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 period. AQR Capital Management LLC grew its holdings in Broadridge Financial Solutions by 71.4% during the third quarter. AQR Capital Management LLC now owns 1,995,511 shares of the business services provider’s stock valued at $263,308,000 after purchasing an additional 831,086 shares during the period. Wells Fargo & Company MN grew its holdings in Broadridge Financial Solutions by 32.0% during the third quarter. Wells Fargo & Company MN now owns 1,950,097 shares of the business services provider’s stock valued at $257,315,000 after purchasing an additional 472,524 shares during the period. Bessemer Group Inc. acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $43,855,000. Finally, Marshall Wace North America L.P. acquired a new position in Broadridge Financial Solutions during the third quarter valued at approximately $50,783,000. Institutional investors own 87.11% of the company’s stock.

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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Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

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