Broadridge Financial Solutions (NYSE:BR – Get Free Report) released its quarterly earnings results on Wednesday. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01), Briefing.com reports. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Broadridge Financial Solutions updated its FY 2024 guidance to 7.710-7.710 EPS.
Broadridge Financial Solutions Stock Performance
BR stock traded up $2.00 during trading on Friday, hitting $195.06. The company had a trading volume of 109,446 shares, compared to its average volume of 494,439. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $199.85 and a 200-day moving average price of $195.61. Broadridge Financial Solutions has a 1-year low of $144.54 and a 1-year high of $210.24. The firm has a market cap of $22.97 billion, a PE ratio of 33.63 and a beta of 0.98.
Broadridge Financial Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Broadridge Financial Solutions
Insider Transactions at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 25,761 shares of company stock valued at $5,223,959 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.
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