Raymond James Financial Reaffirms “Hold” Rating for Broadridge Financial Solutions (BR)

Raymond James Financial restated their hold rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note published on Monday.

BR has been the topic of several other research reports. BidaskClub upgraded shares of Broadridge Financial Solutions from a sell rating to a hold rating in a research note on Tuesday, August 22nd. ValuEngine upgraded shares of Broadridge Financial Solutions from a hold rating to a buy rating in a research note on Tuesday, November 14th. Barclays upped their target price on shares of Broadridge Financial Solutions from $74.00 to $85.00 and gave the stock an equal weight rating in a research note on Thursday, November 9th. Finally, DA Davidson reiterated a hold rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus target price of $85.50.

Shares of Broadridge Financial Solutions (NYSE:BR) opened at $88.65 on Monday. Broadridge Financial Solutions has a 52 week low of $64.17 and a 52 week high of $91.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market cap of $10,350.00, a PE ratio of 27.08, a P/E/G ratio of 2.43 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $925.00 million for the quarter, compared to the consensus estimate of $923.68 million. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. analysts expect that Broadridge Financial Solutions will post 3.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be paid a $0.365 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.46 annualized dividend and a dividend yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio is presently 51.05%.

In other news, insider Richard J. Daly sold 94,039 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BR. Acrospire Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the second quarter valued at approximately $108,000. Toronto Dominion Bank raised its holdings in shares of Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 149 shares during the last quarter. Global X Management Co. LLC raised its holdings in shares of Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 120 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 706 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of Broadridge Financial Solutions by 60.0% during the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 600 shares during the last quarter. 83.54% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This article was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://ledgergazette.com/2017/12/07/raymond-james-financial-reaffirms-hold-rating-for-broadridge-financial-solutions-br.html.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply