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Broadridge Financial Solutions Inc BR

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Stock XNYS Rating as of
$191.49 −0.53 (0.28%)
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Company Report

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Broadridge Earnings: Continued Steady Performance in Seasonally Soft Fiscal Q1

Rajiv Bhatia

Broadridge started its fiscal 2024 on solid footing. Revenues in the firm’s seasonally soft fiscal quarter of $1.43 billion and adjusted EPS of $1.09 edged out the FactSet consensus estimates of $1.39 billion and $0.97 respectively. As is often the case during first quarter earnings, Broadridge reaffirmed its fiscal-year outlook. Overall, there was little in Broadridge’s earnings release that would alter our long-term view of the firm, and we will maintain our fair value estimate of $190 on Broadridge’s shares. Broadridge’s steady performance amid an uncertain macroeconomic backdrop and topsy-turvy market movement support our Morningstar Uncertainty Rating of Low.

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Price vs Fair Value

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BR is trading at a 1% premium.
Price
$192.01
Fair Value
$742.00
Uncertainty
Low
1-Star Price
$317.80
5-Star Price
$137.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Broadridge has a dominant market share position on delivering proxies and interims to beneficial shareholders. Direct indexing and the rise of retail investing can support position growth.

Bears

Broadridge’s fees are set by the NYSE Proxy Working Group, which is overseen by the SEC. A fee review could have a negative impact. In addition, asset managers continue to face fee pressures and may be more mindful of regulatory fees in Broadridge's mutual fund and ETF interim business.

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Trading Information

Previous Close Price
$192.02
Day Range
$189.18–192.39
52-Week Range
$131.81–196.47
Bid/Ask
$191.47 / $191.61
Market Cap
$22.52 Bil
Volume/Avg
310,063 / 500,423

Key Statistics

Price/Earnings (Normalized)
26.45
Price/Sales
3.68
Dividend Yield
1.55%
Dividend Yield (Forward)
1.67%
Total Yield
2.36%

Company Profile

Broadridge Financial Solutions, which was spun off from ADP in 2007, is a leading provider of investor communications and technology-driven solutions to banks, broker/dealers, asset managers, wealth managers, and corporate issuers. Broadridge is composed of two segments: investor communication solutions, or ICS, and global technology and operations, or GTO.
Sector
Technology
Industry
Information Technology Services
Stock Style Box
Mid Core
Total Number of Employees
14,700
Website
https://www.broadridge.com

Competitors

Valuation

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Metric
BR
ENV
SSNC
Price/Earnings (Normalized)
 26.4521.3712.59
Price/Book Value
 10.693.032.29
Price/Sales
 3.681.902.68
Price/Cash Flow
 20.7117.2211.14
Price/Earnings
BR
ENV
SSNC

Financial Strength

Metric
BR
ENV
SSNC
Quick Ratio
 1.240.611.06
Current Ratio
 1.440.751.14
Interest Coverage
 6.54−4.392.85
Quick Ratio
BR
ENV
SSNC

Profitability

Metric
BR
ENV
SSNC
Return on Assets (Normalized)
 10.57%6.08%7.09%
Return on Equity (Normalized)
 43.04%16.35%19.08%
Return on Invested Capital (Normalized)
 15.94%7.68%11.11%
Return on Assets
BR
ENV
SSNC

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