Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $123.40.
Several research analysts have recently commented on the company. Wolfe Research assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating for the company. Zacks Investment Research lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Sandler O’Neill reiterated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. ValuEngine lowered Broadridge Financial Solutions from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Finally, SunTrust Banks assumed coverage on Broadridge Financial Solutions in a research report on Wednesday, August 29th. They issued a “buy” rating and a $150.00 target price for the company.
NYSE BR traded up $0.86 during mid-day trading on Friday, reaching $137.72. 549,288 shares of the company’s stock traded hands, compared to its average volume of 670,603. Broadridge Financial Solutions has a 1-year low of $78.44 and a 1-year high of $138.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96. The firm has a market cap of $15.92 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89.
Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 7th. The business services provider reported $1.86 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.01). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. analysts anticipate that Broadridge Financial Solutions will post 4.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be given a $0.485 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, September 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.41%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 34.84%.
In other news, VP James M. Young sold 44,726 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $129.79, for a total value of $5,804,987.54. Following the completion of the transaction, the vice president now owns 64,848 shares in the company, valued at approximately $8,416,621.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Broadridge Financial Solutions by 2.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 19,561 shares of the business services provider’s stock worth $2,251,000 after purchasing an additional 405 shares during the last quarter. Advisor Partners LLC raised its stake in Broadridge Financial Solutions by 10.4% during the 2nd quarter. Advisor Partners LLC now owns 4,616 shares of the business services provider’s stock valued at $531,000 after acquiring an additional 433 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Broadridge Financial Solutions by 4.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,319 shares of the business services provider’s stock valued at $1,242,000 after acquiring an additional 471 shares in the last quarter. Mcrae Capital Management Inc. raised its stake in Broadridge Financial Solutions by 1.2% during the 2nd quarter. Mcrae Capital Management Inc. now owns 41,605 shares of the business services provider’s stock valued at $4,789,000 after acquiring an additional 490 shares in the last quarter. Finally, Oakbrook Investments LLC raised its stake in Broadridge Financial Solutions by 11.3% during the 2nd quarter. Oakbrook Investments LLC now owns 4,898 shares of the business services provider’s stock valued at $564,000 after acquiring an additional 498 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors and hedge funds.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
Recommended Story: Fundamental Analysis and Choosing Stocks
Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.