Q2 2018 EPS Estimates for Broadridge Financial Solutions, Inc. Raised by DA Davidson (BR)
Broadridge Financial Solutions, Inc. (NYSE:BR) – Investment analysts at DA Davidson upped their Q2 2018 EPS estimates for shares of Broadridge Financial Solutions in a note issued to investors on Wednesday. DA Davidson analyst P. Heckmann now expects that the business services provider will post earnings of $0.64 per share for the quarter, up from their previous estimate of $0.51. DA Davidson has a “Hold” rating and a $86.00 price objective on the stock. DA Davidson also issued estimates for Broadridge Financial Solutions’ FY2018 earnings at $3.74 EPS, Q1 2019 earnings at $0.55 EPS, Q2 2019 earnings at $0.58 EPS and FY2019 earnings at $4.04 EPS.
Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.12. The business had revenue of $925.00 million for the quarter, compared to analysts’ expectations of $923.68 million. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share.
Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Barclays PLC upped their price objective on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday.
Shares of Broadridge Financial Solutions (NYSE:BR) opened at $88.45 on Friday. The firm has a market cap of $10,309.02, a PE ratio of 26.56, a P/E/G ratio of 2.38 and a beta of 0.99. Broadridge Financial Solutions has a 52 week low of $60.25 and a 52 week high of $91.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.70 and a quick ratio of 1.33.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN raised its holdings in Broadridge Financial Solutions by 0.6% in the third quarter. Wells Fargo & Company MN now owns 1,161,491 shares of the business services provider’s stock worth $93,872,000 after purchasing an additional 7,286 shares during the period. Dai Ichi Life Insurance Company Ltd acquired a new stake in Broadridge Financial Solutions in the third quarter worth $229,000. Achmea Investment Management B.V. bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth $257,000. JPMorgan Chase & Co. increased its position in shares of Broadridge Financial Solutions by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 503,464 shares of the business services provider’s stock worth $40,590,000 after acquiring an additional 71,106 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Broadridge Financial Solutions by 3.9% during the third quarter. Legal & General Group Plc now owns 730,628 shares of the business services provider’s stock worth $59,050,000 after acquiring an additional 27,302 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.
In related news, Director Stuart R. Levine sold 7,868 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the transaction, the director now directly owns 39,747 shares in the company, valued at $3,043,825.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard J. Daly sold 94,039 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The disclosure for this sale can be found here. Insiders sold 119,720 shares of company stock worth $9,679,916 over the last 90 days. 2.60% of the stock is currently owned by company insiders.
About Broadridge Financial Solutions
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’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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