Broadridge Financial Solutions (BR) is Downgraded by Raymond James to Mkt Perform

Broadridge Financial Solutions (BR) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Jun 7, 2016.

On the company’s financial health, Broadridge Financial Solutions reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.51. The company had revenue of $688.80 million for the quarter, compared to analysts expectations of $686.40 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Broadridge Financial Solutions opened for trading at $64.16 and hit $64.42 on the upside on Friday, eventually ending the session at $64.34, with a gain of 0.22% or 0.14 points. The heightened volatility saw the trading volume jump to 8,27,822 shares. Company has a market cap of $7,606 M.

Investors should note that on May 3, 2016, Broadridge Financial Solutions announced a cash dividend of $0.3000. The company’s management has announced Jun 15, 2016 as the ex-dividend date and fixed the record date on Jun 17, 2016. The payable date has been fixed on Jul 1, 2016.

In a different news, on Mar 2, 2016, Robert Schifellite (Corporate Senior VP) purchased 16 shares at $51.85 per share price. According to the SEC, on Feb 17, 2016, Charles J Marchesani (Corporate Vice President) sold 37,914 shares at $55.19 per share price. On Jan 6, 2016, Douglas Richard Deschutter (Corporate Vice President) sold 9,075 shares at $52.44 per share price, according to the Form-4 filing with the securities and exchange commission.

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 delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle including pre-trade trade and post-trade processing. It serves a diverse client base across its five businesses: Bank/Broker-Dealer Investor Communication Solutions Corporate Issuer Solutions Advisor Solutions Mutual Fund and Retirement Solutions and Global Technology and Operations. Its businesses operate in two business segments: Investor Communication Solutions and Global Technology and Operations. Its services include investor communications securities processing and data and analytics solutions. It provides an infrastructure that helps the financial services industry operate. It provides financial services firms with integrated systems.

Broadridge Financial Solutions

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