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Broadridge (BR) Rises 25% in a Year: What You Should Know
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Broadridge Financial Solutions, Inc. (BR - Free Report) has had an impressive run over the past year, with shares having gained 25.4% compared with the 8.7% increase of the Outsourcing industry and the 20.3% rise of the Zacks S&P 500 composite.
What’s Aiding the Stock?
Broadridge is experiencing steady income from regular fees. It is benefiting from a combination of new customers, internal expansion and synergies from acquisitions. The company’s revenues came in at $6.1 billion in fiscal 2023, $5.71 billion in fiscal 2022 and $4.99 billion in fiscal 2021, reflecting year-over-year growth of around 6%, 14%, and 10%, respectively.
Broadridge has a consistent track record of dividend payments. In 2023, 2022, and 2021, it paid $331 million, $290.7 million and $261.7 million in dividends, respectively. Such moves indicate the company’s commitment to creating value for shareholders and underline its confidence in its business.
Broadridge is executing well on its growth strategy in governance, capital markets and wealth management. On the governance front, it is utilizing the next generation of digital communications and enhancing print and mail services through advanced technology. In capital markets, the company continues to develop its global platform capabilities and use next-generation solutions to improve its offerings. On the wealth management front, it has developed a comprehensive wealth management platform that offers top-notch systems and data integration capabilities and enables clients.
For fiscal 2024, the Zacks Consensus Estimate for earnings and revenues is pegged at $7.6 per share and $6.5 billion, respectively. The earnings estimate indicates an 8.8% increase year over year while the revenue estimate suggests 7.2% growth.
Zacks Rank and Other Stocks to Consider
BR currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the broader Business Service sector that investors may consider:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched once, with an average surprise of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, indicating an 8.2% decrease from the year-ago reported figure. Its earnings are pegged at $5.71 per share for 2023, suggesting 14% growth from the year-ago reported figure. VRSK currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently carries a Zacks Rank of 2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies year-over-year growth of 6.3% and 11.1%, respectively.
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Broadridge (BR) Rises 25% in a Year: What You Should Know
Broadridge Financial Solutions, Inc. (BR - Free Report) has had an impressive run over the past year, with shares having gained 25.4% compared with the 8.7% increase of the Outsourcing industry and the 20.3% rise of the Zacks S&P 500 composite.
What’s Aiding the Stock?
Broadridge is experiencing steady income from regular fees. It is benefiting from a combination of new customers, internal expansion and synergies from acquisitions. The company’s revenues came in at $6.1 billion in fiscal 2023, $5.71 billion in fiscal 2022 and $4.99 billion in fiscal 2021, reflecting year-over-year growth of around 6%, 14%, and 10%, respectively.
Broadridge Financial Solutions, Inc. Price
Broadridge Financial Solutions, Inc. price | Broadridge Financial Solutions, Inc. Quote
Broadridge has a consistent track record of dividend payments. In 2023, 2022, and 2021, it paid $331 million, $290.7 million and $261.7 million in dividends, respectively. Such moves indicate the company’s commitment to creating value for shareholders and underline its confidence in its business.
Broadridge is executing well on its growth strategy in governance, capital markets and wealth management. On the governance front, it is utilizing the next generation of digital communications and enhancing print and mail services through advanced technology. In capital markets, the company continues to develop its global platform capabilities and use next-generation solutions to improve its offerings. On the wealth management front, it has developed a comprehensive wealth management platform that offers top-notch systems and data integration capabilities and enables clients.
For fiscal 2024, the Zacks Consensus Estimate for earnings and revenues is pegged at $7.6 per share and $6.5 billion, respectively. The earnings estimate indicates an 8.8% increase year over year while the revenue estimate suggests 7.2% growth.
Zacks Rank and Other Stocks to Consider
BR currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the broader Business Service sector that investors may consider:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched once, with an average surprise of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, indicating an 8.2% decrease from the year-ago reported figure. Its earnings are pegged at $5.71 per share for 2023, suggesting 14% growth from the year-ago reported figure. VRSK currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently carries a Zacks Rank of 2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies year-over-year growth of 6.3% and 11.1%, respectively.