Q1 2024 Earnings Estimate for Broadridge Financial Solutions, Inc. (NYSE:BR) Issued By Zacks Research

Broadridge Financial Solutions, Inc. (NYSE:BR) – Stock analysts at Zacks Research boosted their Q1 2024 EPS estimates for Broadridge Financial Solutions in a research report issued on Thursday, September 14th. Zacks Research analyst S. Bose now forecasts that the business services provider will post earnings per share of $0.93 for the quarter, up from their previous forecast of $0.91. The consensus estimate for Broadridge Financial Solutions’ current full-year earnings is $7.63 per share. Zacks Research also issued estimates for Broadridge Financial Solutions’ Q2 2024 earnings at $0.94 EPS, Q4 2024 earnings at $3.47 EPS, FY2024 earnings at $7.61 EPS, Q1 2025 earnings at $1.14 EPS, Q2 2025 earnings at $1.05 EPS and Q4 2025 earnings at $3.30 EPS.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.11. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.87 billion. Broadridge Financial Solutions had a return on equity of 42.09% and a net margin of 10.40%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 earnings per share.

Several other equities research analysts also recently issued reports on BR. Raymond James raised their target price on shares of Broadridge Financial Solutions from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $169.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, DA Davidson increased their price objective on shares of Broadridge Financial Solutions from $160.00 to $164.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.67.

Broadridge Financial Solutions Price Performance

BR opened at $185.14 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.00. Broadridge Financial Solutions has a 12 month low of $131.35 and a 12 month high of $189.69. The company has a fifty day simple moving average of $177.19 and a 200 day simple moving average of $159.09. The stock has a market cap of $21.87 billion, a P/E ratio of 35.00 and a beta of 0.98.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.73%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.73. The ex-dividend date is Thursday, September 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.82%.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 12,834 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $186.45, for a total transaction of $2,392,899.30. Following the completion of the sale, the president now owns 77,352 shares in the company, valued at approximately $14,422,280.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Douglas Richard Deschutter sold 22,874 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $182.95, for a total transaction of $4,184,798.30. Following the transaction, the vice president now owns 38,247 shares of the company’s stock, valued at $6,997,288.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Christopher John Perry sold 12,834 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $186.45, for a total value of $2,392,899.30. Following the sale, the president now owns 77,352 shares in the company, valued at $14,422,280.40. The disclosure for this sale can be found here. Insiders have sold a total of 191,035 shares of company stock valued at $34,423,247 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of large investors have recently modified their holdings of BR. Bradley Foster & Sargent Inc. CT increased its position in Broadridge Financial Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,945 shares of the business services provider’s stock valued at $488,000 after acquiring an additional 60 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Broadridge Financial Solutions by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,137 shares of the business services provider’s stock valued at $1,513,000 after acquiring an additional 63 shares during the period. Larson Financial Group LLC increased its stake in Broadridge Financial Solutions by 56.4% during the second quarter. Larson Financial Group LLC now owns 183 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the period. Ropes Wealth Advisors LLC boosted its holdings in Broadridge Financial Solutions by 1.7% during the first quarter. Ropes Wealth Advisors LLC now owns 4,327 shares of the business services provider’s stock valued at $634,000 after purchasing an additional 73 shares in the last quarter. Finally, Legacy Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 0.9% in the 2nd quarter. Legacy Advisors LLC now owns 8,037 shares of the business services provider’s stock worth $1,331,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 89.36% 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. 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.