Broadridge Financial Solutions (NYSE:BR - Get Free Report) posted its earnings results on Wednesday. The business services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.24 by ($0.01), Briefing.com reports. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. Broadridge Financial Solutions updated its FY 2024 guidance to 7.710-7.710 EPS.
Broadridge Financial Solutions Price Performance
Shares of BR traded down $10.90 during trading hours on Wednesday, hitting $190.46. 873,849 shares of the company were exchanged, compared to its average volume of 497,195. The company has a market cap of $22.43 billion, a price-to-earnings ratio of 33.18 and a beta of 0.98. The firm's fifty day moving average is $200.29 and its 200 day moving average is $195.66. Broadridge Financial Solutions has a fifty-two week low of $144.54 and a fifty-two week high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77.
Broadridge Financial Solutions Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.68%. Broadridge Financial Solutions's payout ratio is 55.75%.
Insider Activity at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders sold a total of 25,761 shares of company stock valued at $5,223,959 over the last quarter. 1.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on BR shares. Evercore ISI reissued an "outperform" rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson restated a "neutral" rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an "outperform" rating in a research note on Friday, February 2nd. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Raymond James increased their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $206.67.
Check Out Our Latest Stock Analysis on Broadridge Financial Solutions
About Broadridge Financial Solutions
(
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Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.
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