Broadridge Financial Solutions (NYSE:BR) Updates FY21 Earnings Guidance


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Broadridge Financial Solutions (NYSE:BR) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.58-$5.68 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.54. The company issued revenue guidance of $4.89-$4.98 billion, compared to the consensus revenue estimate of $4.74 billion.Broadridge Financial Solutions also updated its FY 2021 guidance to 5.583-5.684 EPS.

Broadridge Financial Solutions stock traded up $2.88 during trading on Tuesday, hitting $162.86. 836,670 shares of the company were exchanged, compared to its average volume of 571,325. The business’s 50 day moving average is $155.03 and its 200 day moving average is $149.03. Broadridge Financial Solutions has a 52 week low of $110.74 and a 52 week high of $163.83. The company has a market capitalization of $18.86 billion, a P/E ratio of 40.21 and a beta of 0.83. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.26.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, May 4th. The business services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.09. Broadridge Financial Solutions had a return on equity of 48.98% and a net margin of 10.27%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Broadridge Financial Solutions’s revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that Broadridge Financial Solutions will post 5.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 2nd. Shareholders of record on Monday, March 15th were paid a $0.575 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $2.30 dividend on an annualized basis and a yield of 1.41%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 45.73%.

A number of research analysts have issued reports on the company. Raymond James upped their price objective on Broadridge Financial Solutions from $155.00 to $157.00 and gave the company an outperform rating in a research note on Wednesday, February 3rd. BTIG Research raised Broadridge Financial Solutions from a neutral rating to a buy rating and set a $176.00 price objective on the stock in a report on Wednesday, February 3rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $154.17.

In other news, VP Adam D. Amsterdam sold 20,936 shares of the firm’s stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $148.49, for a total value of $3,108,786.64. Following the completion of the transaction, the vice president now owns 21,400 shares in the company, valued at approximately $3,177,686. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert N. Duelks sold 3,699 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $144.83, for a total value of $535,726.17. Following the transaction, the director now owns 34,266 shares of the company’s stock, valued at approximately $4,962,744.78. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.

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Earnings History and Estimates for Broadridge Financial Solutions (NYSE:BR)

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