Broadridge Financial Solutions Q2 Earnings Rise; Beats Estimates (BR)
Financial services company Broadridge Financial Solutions, Inc. (BR) reported higher fourth quarter results on Thursday, which came in above analysts’ estimates.
The Lake Success, NY-based company posted fourth quarter earnings of $134.6 million, or $1.09 per share, up from $83.4 million, or 65 cents per share, a year ago. Excluding special items, earnings were $142.4 million, or $1.15 per share. On average, analysts expected BR to report earnings of $1.07 per share.
Total revenue for the quarter was $865.1 million, up from $800.3 million a year ago. Analysts estimated revenue of $815.84 million.
Looking ahead, the company expects to see FY2014 recurring revenue growth between 5% and 7% and total revenue growth between 2% and 4%.
The company is estimating GAAP earnings between $1.89 and $1.99 per share and Non-GAAP earnings between $2.00 and $2.10 per share. Analysts expect to see earnings of $2.01 per share.
Broadridge Financial shares were up $1.37, or 4.73%, during Thursday morning trading. The stock is up 32% YTD.
The Bottom Line
Shares of Broadridge Financial Solutions, Inc. (BR) have a 2.48% yield based on Wednesday’s closing price of $28.98.
Broadridge Financial Solutions, Inc. (BR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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