Broadridge Financial Solutions, (NYSE:BR):
Broadridge Forms Strategic Alliance with Spence Johnson.
In the market the company is trading down by -0.67 percent from yesterday’s close.
Additionally Broadridge Financial Solutions, announced a dividend for shareholders to be paid on Monday July 3rd, 2017. The dividend will be $0.330 per share for the quarter or $1.32 annualized. The dividend yield will be $1.78. The ex-dividend date will be Friday March 10th, 2017.
Broadridge Financial Solutions, Inc. (Broadridge), launched on December 6, 2006, is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Business’s segments include Investor Communication Solutions, and Global Technology and Operations. The Business’s services include investor and customer communications, securities processing, and data and analytics solutions. The Company delivers a range of solutions that helps its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing functionality. The Company serves a client base across four client groups: capital markets, asset management, wealth management and corporations..
Shares are trading at $74.24 which is marginally over $72.44, the 50 day moving average and a tad above the 200 day moving average of $68.50. The 50 day moving average was up by +2.49% and the 200 day average moved up $5.74.
The P/E ratio is currently 29.08 and the market cap of the company is 8.73B. As of the last earnings report the EPS was $2.55 and is expected to be $3.14 for the current year with 117,578,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.45 and the next full year EPS is projected to be $3.65.
Wall Street investment firms have released opinions on Broadridge Financial Solutions, of late. On September 29 the company was rated “Hold” by Sandler O'Neill a cut from the previous “Buy” rating. On September 13 analysts at Atlantic Equities began coverage of the stock with an initial rating of “Overweight”.
On July 7 the company was downgraded from “Overweight” to “Equal-weight” with a current price target of $67.00 by analysts at Barclays. Equity analyst Barclays downgraded the stock and raised the price target on July 7 changing the price objective from $65.00 to $67.00 and altering the rating from “Overweight” to “Equal-weight”.
On June 15 the company was downgraded to “Market Perform” from “Market Outperform” and a price target of $65.00 was set in a report from Avondale Partners. Equity analyst Avondale Partners raised the price target and downgraded the stock on June 15 changing the price target from $60.00 to $65.00 and setting the rating at “Market Perform” which had previously been “Market Outperform”.