Broadridge Financial Solutions Inc. (BR) Shares Gap Down to $70.15
Broadridge Financial Solutions Inc. (NYSE:BR) gapped down prior to trading on Monday . The stock had previously closed at $69.88, but opened at $70.15. Broadridge Financial Solutions shares last traded at $70.92, with a volume of 432,000 shares traded.
Several research firms recently weighed in on BR. Barclays PLC boosted their target price on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Avondale Partners lowered Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a report on Wednesday, June 15th. Finally, Raymond James Financial Inc. lowered Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 7th. They noted that the move was a valuation call.
The company has a 50-day moving average of $68.21 and a 200 day moving average of $62.68. The firm has a market cap of $8.39 billion and a P/E ratio of 28.03.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.45. The business earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Broadridge Financial Solutions Inc. will post $3.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.86%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.30.
In related news, insider Charles J. Marchesani sold 34,162 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $66.71, for a total transaction of $2,278,947.02. Following the completion of the transaction, the insider now directly owns 67,201 shares in the company, valued at $4,482,978.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam D. Amsterdam sold 91,412 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $68.02, for a total value of $6,217,844.24. Following the transaction, the insider now owns 60,134 shares of the company’s stock, valued at $4,090,314.68. 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.
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