Broadridge Financial Solutions, Inc. (NYSE:BR) Shareholders Set to Receive $1.09 Quarterly Dividend

Broadridge Financial Solutions, Inc. (NYSE:BR) declared a quarterly dividend on Tuesday, November 10th. Shareholders of record on Thursday, December 10th will be paid a dividend of $1.09 per share by the business services provider on Monday, January 11th. This represents a $4.36 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, December 10th.

Broadridge Financial Solutions has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 18 years. Broadridge Financial Solutions has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Broadridge Financial Solutions to earn $11.67 per share next year, which means the company should continue to be able to cover its $4.36 annual dividend with an expected future payout ratio of 37.4%.

Broadridge Financial Solutions Stock Down 0.9%

Shares of BR stock traded down $1.80 during mid-day trading on Wednesday, reaching $191.16. 82,331 shares of the company’s stock traded hands, compared to its average volume of 1,318,183. Broadridge Financial Solutions has a 12 month low of $133.83 and a 12 month high of $233.10. The company has a market cap of $21.62 billion, a P/E ratio of 21.13 and a beta of 0.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average price is $172.51 and its 200-day moving average price is $165.69.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $1.51 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Broadridge Financial Solutions will post 10.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 4th. DA Davidson reiterated a “buy” rating and issued a $214.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Royal Bank Of Canada increased 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. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $212.71.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.