Broadridge Financial Solutions’ (BR) “Neutral” Rating Reiterated at DA Davidson

13 Apr 2024, 08:28 by Kim Johansen · The Markets Daily

DA Davidson reaffirmed their neutral rating on shares of Broadridge Financial Solutions (NYSE:BR – Free Report) in a research report released on Wednesday morning, Benzinga reports. DA Davidson currently has a $185.00 target price on the business services provider’s stock.

A number of other brokerages have also commented on BR. Evercore ISI reaffirmed an outperform rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. StockNews.com lowered Broadridge Financial Solutions from a buy rating to a hold rating in a research report on Wednesday, March 27th. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Finally, Raymond James lifted their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an outperform rating in a research note 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $206.67.

Check Out Our Latest Stock Analysis on Broadridge Financial Solutions

Broadridge Financial Solutions Stock Performance

BR stock opened at $198.83 on Wednesday. The stock has a 50-day moving average price of $201.21 and a 200-day moving average price of $193.52. Broadridge Financial Solutions has a 1-year low of $139.52 and a 1-year high of $210.24. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a market cap of $23.42 billion, a PE ratio of 34.64 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $0.91 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. Broadridge Financial Solutions’s payout ratio is presently 55.75%.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock worth $9,745,637 in the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $25,000. Money Concepts Capital Corp lifted its position in shares of Broadridge Financial Solutions by 400.0% during the fourth quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock worth $26,000 after acquiring an additional 156 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $27,000. Headinvest LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $32,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $34,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Company Profile

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