Broadridge Financial Solutions (BR) Receives “Hold” Rating from Raymond James Financial

Raymond James Financial reiterated their hold rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research report released on Monday morning.

A number of other research firms have also recently issued reports on BR. Barclays raised their price objective on Broadridge Financial Solutions from $74.00 to $85.00 and gave the company an equal weight rating in a research report on Thursday, November 9th. ValuEngine cut Broadridge Financial Solutions from a buy rating to a hold rating in a report on Friday. DA Davidson started coverage on Broadridge Financial Solutions in a report on Monday, August 7th. They set a neutral rating and a $74.00 price target for the company. Finally, BidaskClub raised Broadridge Financial Solutions from a sell rating to a hold rating in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average price target of $85.50.

Broadridge Financial Solutions (BR) traded up $0.04 on Monday, hitting $90.17. The stock had a trading volume of 503,500 shares, compared to its average volume of 465,329. Broadridge Financial Solutions has a 52 week low of $63.55 and a 52 week high of $91.75. The firm has a market capitalization of $10,504.88, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.70 and a current ratio of 1.70.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a $0.365 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.46 annualized dividend and a yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio is presently 50.87%.

In other Broadridge Financial Solutions news, insider Richard J. Daly sold 94,039 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $81.95, for a total value of $7,706,496.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in BR. ETF Managers Group LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $144,000. Acrospire Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $108,000. Toronto Dominion Bank increased its stake in shares of Broadridge Financial Solutions by 11.4% in the 2nd 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 increased its stake in shares of Broadridge Financial Solutions by 8.5% in the 2nd 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. Finally, Advisory Services Network LLC increased its stake in shares of Broadridge Financial Solutions by 82.8% in the 2nd 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. 83.54% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Broadridge Financial Solutions (BR) Receives “Hold” Rating from Raymond James Financial” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://stocknewstimes.com/2017/12/05/broadridge-financial-solutions-br-receives-hold-rating-from-raymond-james-financial.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.

Latest News

Leave a Reply