Broadridge Financial Solutions, Inc. (NYSE:BR) to Issue $0.98 Quarterly Dividend

Broadridge Financial Solutions, Inc. (NYSE:BR) announced a quarterly dividend on Thursday, November 13th. Shareholders of record on Friday, December 12th will be paid a dividend of 0.975 per share by the business services provider on Monday, January 5th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th.

Broadridge Financial Solutions has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 18 years. Broadridge Financial Solutions has a dividend payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadridge Financial Solutions to earn $9.31 per share next year, which means the company should continue to be able to cover its $3.90 annual dividend with an expected future payout ratio of 41.9%.

Broadridge Financial Solutions Stock Up 0.2%

Shares of Broadridge Financial Solutions stock traded up $0.53 on Friday, reaching $226.14. 187,828 shares of the company were exchanged, compared to its average volume of 604,991. The stock’s 50 day moving average price is $234.29 and its 200-day moving average price is $241.36. The company has a market cap of $26.40 billion, a P/E ratio of 28.95 and a beta of 0.96. Broadridge Financial Solutions has a 1-year low of $212.33 and a 1-year high of $271.91. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The company had revenue of $1.05 billion for the quarter. As a group, equities analysts forecast that Broadridge Financial Solutions will post 8.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BR shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, DA Davidson restated a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $259.83.

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.