Broadridge Financial Solutions Inc. (BR) Shares Gap Up to $70.15
Broadridge Financial Solutions Inc. (NYSE:BR) shares gapped up prior to trading on Friday . The stock had previously closed at $69.88, but opened at $70.15. Broadridge Financial Solutions shares last traded at $70.54, with a volume of 167,053 shares changing hands.
BR has been the topic of a number of recent research reports. Barclays PLC boosted their price objective on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 10th. Zacks Investment Research cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Raymond James Financial Inc. cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 7th. They noted that the move was a valuation call. Finally, Avondale Partners cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, June 15th.
The stock has a 50 day moving average price of $68.21 and a 200 day moving average price of $62.68. The firm has a market cap of $8.39 billion and a price-to-earnings ratio of 28.03.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.45. During the same period last year, the firm earned $1.40 earnings per share. The firm had revenue of $975 million for the quarter, compared to analyst estimates of $991.13 million. Broadridge Financial Solutions’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions Inc. will post $3.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.33 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.86%. The ex-dividend date is Tuesday, September 13th.
In other Broadridge Financial Solutions news, insider Robert F. Kalenka sold 53,818 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $68.96, for a total transaction of $3,711,289.28. Following the sale, the insider now directly owns 52,447 shares of the company’s stock, valued at approximately $3,616,745.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 900 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $68.51, for a total transaction of $61,659.00. Following the sale, the vice president now directly owns 5,561 shares in the company, valued at $380,984.11. The disclosure for this sale can be found here.
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.