Broadridge Financial Solutions (BR) – Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Broadridge Financial Solutions (BR), based in Lake Success, New York, is a prominent player in the Information Technology Services sector, specializing in solutions tailored for the financial services industry. Established in 1962, the company operates through two key segments: Investor Communication Solutions and Global Technology and Operations. Broadridge delivers an array of services, including proxy material distribution, regulatory reporting, and advanced data analytics. The company’s innovative platforms, such as the Broadridge Communications Cloud, focus on enhancing customer engagement and automating the transaction lifecycle, aiming for improved operational efficiency and regulatory compliance within a rapidly evolving market.
Market Position and Financial Performance
As of the latest financial data, Broadridge reported total revenues of approximately $6.51 billion, showcasing stability and growth potential within the Information Technology Services industry. Analysts currently recommend a “hold” for investments, indicating a cautious approach amid the resilient financial standing, with no immediate significant appreciation expected. Broadridge’s stock is priced at $208.22, with a target high of $246.00 and an average target price of $217.76, suggesting optimism regarding future performance. Short interest accounts for 0.0134% of the company’s float, reflecting a positive investor sentiment towards Broadridge, supported by the presence of 116,709,000 shares outstanding.
Stock Performance and Analyst Insights
The current stock price of $208.22 is slightly below the fifty-day moving average of $210.31, pointing to minor underperformance recently. Over the past year, BR has experienced price volatility, reaching a high of $223.81 and a low of $166.73. This variability highlights broader market trends and specific developments impacting the company. Given the current price is closer to the lower end of its fifty-two-week range, investors should watch for potential support signals or upward movement. The consensus among analysts, with a recommendation mean score of 2.6 and a range of target prices between $200.00 and $246.00, suggests maintaining positions in the stock until clearer trends emerge.
| Metric | Value |
|---|---|
| Market Cap | $24.3b |
| Total Debt | $3.6b |
| Total Cash | $305.2m |
| Shares Outstanding | 116.7m |
| Float Shares | 116.0m |
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