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BR

Broadridge

$105.40

-11.13 (-9.55%)

18:36
11/06/18
11/06
18:36
11/06/18
18:36

Broadridge sees Q2 revenue down 3%-6% y/y, consensus $1.01B

Broadridge Financial Solutions is narrowing the estimated range of its second quarter fiscal year 2019 total revenue. In response to a question on its first quarter 2019 earnings conference call and webcast held earlier, Broadridge indicated that the company expects its second quarter fiscal year 2019 total revenues to be down by "single digit to low double digits" in comparison with its reported second quarter fiscal year 2018 revenues. The company says instead that it expects its second quarter fiscal year 2019 total revenues to decline by a range of 3%-6% compared to reported second quarter 2018 total revenues. This decline is projected to be driven by a 40%-50% decline in event-driven revenues and a decline in distribution revenues, partially offset by a 5%-7% increase in recurring fee revenues, compared to second quarter fiscal year 2018 reported results. On its earnings conference call earlier, the company reaffirmed its full fiscal year 2019 financial guidance.

  • 06

    Nov

BR Broadridge
$105.40

-11.13 (-9.55%)

07/17/18
WOLF
07/17/18
INITIATION
Target $128
WOLF
Peer Perform
Broadridge initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Darrin Peller started Broadridge with a Peer Perform rating and $128 price target.Target $128.
08/29/18
RHCO
08/29/18
INITIATION
Target $150
RHCO
Buy
Broadridge initiated with a Buy at SunTrust
SunTrust analyst Oscar Turner initiated Broadridge with a Buy rating and a price target of $150, saying the company will continue to gain "meaningful customer wallet share" and generate long-term mid-single-digit organic revenue growth. Turner adds that the operating leverage of Broadridge suggests "at least" high-single-digit EPS expansion that should be consistent through its current cycle. The analyst believes that the company's "enduring" competitive advantages are derived from " regulatory-driven demand, scale, and few substitute solutions".
08/29/18
08/29/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Weight Watchers (WTW) initiated with an Outperform at Oppenheimer. 2. Systemax (SYX) initiated with a Market Perform at William Blair. 3. Broadridge (BR) initiated with a Buy at SunTrust. 4. Mercury General (MCY) initiated with an Outperform at Keefe Bruyette. 5. Immune Design (IMDZ) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/06/18
EVER
11/06/18
NO CHANGE
EVER
Outperform
Broadridge pullback due to' misinterpreted' guidance, says Evercore ISI
Evercore ISI analyst David Togut reiterated his Outperform rating on Broadridge shares after speaking to CFO Jim Young and reviewing the details of the company's Q2 and FY19 guidance. Togut sees the pullback in the stock being due to "misinterpreted" management guidance related to the current December quarter revenue outlook, adding that he believes the underlying recurring revenue and earnings growth potential "remain excellent."

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