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

Broadridge Financial Solutions (NYSE:BR) released its 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 analyst estimates of $1.77 billion. During the same quarter last year, the business earned $2.05 earnings per share. The firm’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 Down 3.9 %

Shares of BR stock traded down $7.77 on Wednesday, hitting $193.59. 70,453 shares of the stock traded hands, compared to its average volume of 487,800. The firm’s 50-day moving average price is $200.29 and its two-hundred day moving average price is $195.66. Broadridge Financial Solutions has a twelve month low of $144.54 and a twelve month high of $210.24. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $22.80 billion, a PE ratio of 35.08 and a beta of 0.98.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. Broadridge Financial Solutions’s payout ratio is 55.75%.

Wall Street Analyst Weigh In

BR has been the subject of several research reports. Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Royal Bank of Canada boosted 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 note on Friday, February 2nd. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction dated 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 owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders have sold 25,761 shares of company stock valued at $5,223,959 over the last 90 days. 1.60% of the stock is owned by insiders.

Broadridge Financial Solutions Company Profile

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.