Broadridge Financial Solutions (NYSE:BR) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Key Points

• Broadridge beat quarterly earnings expectations: EPS was $1.56 versus the $1.37 consensus, while revenue reached $1.67 billion, slightly above estimates and up 5% year over year.
• Shares opened at $181.73 and were down 1.4%; the stock has a market capitalization of $20.52 billion and trades at a P/E ratio of 18.80.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $216 price target; recent targets range from $176 to $226.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) posted its quarterly earnings data on Tuesday. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.19, Zacks reports. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the business earned $1.51 EPS. Broadridge Financial Solutions's revenue was up 5.0% compared to the same quarter last year.

Broadridge Financial Solutions Stock Down 1.4%

Shares of NYSE BR opened at $181.73 on Tuesday. Broadridge Financial Solutions has a 1 year low of $133.83 and a 1 year high of $233.10. The company has a market capitalization of $20.52 billion, a P/E ratio of 18.80 and a beta of 0.92. The company has a 50 day simple moving average of $171.67 and a 200-day simple moving average of $166.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24.

Analysts Set New Price Targets

BR has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a report on Monday, August 31st. UBS Group reaffirmed a "neutral" rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $169.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, DA Davidson reiterated a "buy" rating and issued a $214.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of "Moderate Buy" and an average target price of $216.00.

Insiders Place Their Bets

In related news, VP Thomas Carey sold 2,501 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the transaction, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc NYSE: BR is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company's offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.

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