Raymond James Downgrades Broadridge Financial Solutions to Market Perform

Brokerage firm Raymond James Downgrades its rating on Broadridge Financial Solutions(NYSE:BR). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Jun 7, 2016.

Broadridge Financial Solutions (BR) shares turned negative on Fridays trading session with the shares closing down -0.24 points or -0.38% at a volume of 9,04,704. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $63.74. The peak price level was also seen at $63.74 while the days lowest was $63.12. Finally the shares closed at $63.54. The 52-week high of the shares is $66.05 while the 52-week low is $48.56. According to the latest information available, the market cap of the company is $7,511 M.

Broadridge Financial Solutions has also declared a cash dividend of $0.3000 on May 3, 2016. The shares will quote ex-dividend on Jun 15, 2016 and the record date has been fixed on Jun 17, 2016. The dividend payable date has been fixed on Jul 1, 2016.

Broadridge Financial Solutions(BR) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $688.80M. Analysts had an estimated revenue of $688.75M. Earnings per share were $0.58. Analysts had estimated an EPS of $0.51.

Several Insider Transactions has been reported to the SEC. On Mar 2, 2016, Robert Schifellite (Corporate Senior VP) purchased 16 shares at $51.85 per share price.Also, On Feb 17, 2016, Charles J Marchesani (Corporate Vice President) sold 37,914 shares at $55.19 per share price.On Jan 6, 2016, Douglas Richard Deschutter (Corporate Vice President) sold 9,075 shares at $52.44 per share price, according to the Form-4 filing with the securities and exchange commission.

Broadridge Financial Solutions Inc. (Broadridge) is a provider of investor communications and technology-driven solutions to banks broker-dealers mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle including pre-trade trade and post-trade processing. It serves a diverse client base across its five businesses: Bank/Broker-Dealer Investor Communication Solutions Corporate Issuer Solutions Advisor Solutions Mutual Fund and Retirement Solutions and Global Technology and Operations. Its businesses operate in two business segments: Investor Communication Solutions and Global Technology and Operations. Its services include investor communications securities processing and data and analytics solutions. It provides an infrastructure that helps the financial services industry operate. It provides financial services firms with integrated systems.

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