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Broadridge Financial Solutions , Inc. (NYSE: NYSE:BR) stock soared to an all-time high of $237.93, marking a significant milestone for the $27.7 billion market cap company. This peak reflects a robust 1-year total return of 25.29%, with the stock trading at a P/E ratio of 40.2, underscoring the investor confidence in Broadridge's performance and future prospects. The company has maintained dividend payments for 18 consecutive years, currently offering a 1.49% yield. The company, known for its financial services technology solutions, has been experiencing strong demand for its offerings, with revenue growing at 4.67% and maintaining a GOOD financial health score according to InvestingPro analysis. Investors are closely monitoring Broadridge's strategic initiatives and market position as the stock continues to chart new territories. InvestingPro identifies 12 additional key insights about Broadridge's valuation and growth prospects in its comprehensive Pro Research Report.
In other recent news, Broadridge Financial Solutions reported robust fiscal first quarter 2025 results. The company noted a 4% rise in recurring revenue and a record $57 million in closed sales, a 21% increase year-over-year. Broadridge also revealed an adjusted earnings per share (EPS) of $1 and upgraded its recurring revenue guidance for fiscal 2025 to 6%-8%, up from the previously forecasted 5%-7%.
UBS initiated coverage on Broadridge with a Neutral rating and a price target set at $250, highlighting the company's potential for steady recurring revenue growth. The firm's fiscal 2025 earnings per share (EPS) estimate for Broadridge stands at $8.56, marginally surpassing the consensus of $8.52. Meanwhile, DA Davidson increased Broadridge's price target from $205.00 to $210.00, maintaining a neutral rating on the stock.
In company developments, Broadridge's shareholders approved all management's proposals at the 2024 Annual Meeting, including the election of 10 directors, the Say on Pay vote, and the ratification of Deloitte & Touche LLP as the company's independent auditors. Broadridge continues to explore merger and acquisition opportunities while maintaining a focus on organic growth, with a robust sales pipeline and a backlog of $450 million. These are the recent developments in the company's activities.
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