Why Is Broadridge Financial Solutions Stock Trading Higher Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 06 2024
0mins
Source: Benzinga
Financial Performance: Broadridge Financial Solutions reported a 6% year-over-year revenue growth to $1.94 billion for Q4 FY24, slightly missing expectations, while adjusted EPS rose 9% to $3.50, aligning with consensus. The company also announced a 10% increase in its annual dividend.
Future Outlook: For FY25, Broadridge anticipates recurring revenue growth of 5% to 7% and adjusted EPS growth of 8% to 12%, indicating strong confidence in meeting its three-year financial objectives.
Analyst Views on BR
Wall Street analysts forecast BR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BR is 267.80 USD with a low forecast of 240.00 USD and a high forecast of 305.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
2 Buy
4 Hold
0 Sell
Moderate Buy
Current: 206.850
Low
240.00
Averages
267.80
High
305.00
Current: 206.850
Low
240.00
Averages
267.80
High
305.00
About BR
Broadridge Financial Solutions, Inc. is a global technology company with specialization and transformative technology, helping clients and the financial services industry operate, innovate, and grow. Its segments include Investor Communication Solutions (ICS) and Global Technology and Operations (GTO). Its ICS segment provides Regulatory Solutions, Data-Driven Fund Solutions, Corporate Issuer Solutions, and Customer Communications Solutions. The ICS business involves the processing and distribution of proxy materials to investors in equity securities and mutual funds, and the facilitation of related vote processing. The Global Technology and Operations business offers mission-critical, scale infrastructure to the global financial markets. Its component-based platform automates the front-to-back transaction lifecycle of equity, mutual funds, fixed income, and foreign exchange and exchange-traded derivatives. It also offers cross-border fund distribution and regulatory services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
