Why Is Broadridge Financial Solutions Stock Trading Higher Today?
Portfolio Pulse from Lekha Gupta
Broadridge Financial Solutions Inc (NYSE:BR) shares are trading higher after reporting Q4 FY24 results. The company saw a 6% Y/Y revenue growth to $1.94 billion, missing the consensus of $1.96 billion. Recurring revenues increased 5% to $1.33 billion, and adjusted EPS rose 9% Y/Y to $3.50, in line with the consensus. The FY25 outlook includes a 5%-7% Y/Y recurring revenue growth and an 8%-12% Y/Y adjusted EPS growth. The company also announced a 10% increase in its annual dividend to $3.52. Investors can gain exposure via Motley Fool Mid-Cap Growth ETF (BATS:TMFM) and Bahl & Gaynor Small/Mid Cap Income Growth ETF (NYSE:SMIG).
August 06, 2024 | 4:26 pm
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POSITIVE IMPACT
Broadridge Financial Solutions reported Q4 FY24 results with a 6% Y/Y revenue growth to $1.94 billion, missing the consensus of $1.96 billion. Adjusted EPS rose 9% Y/Y to $3.50, in line with the consensus. The FY25 outlook includes a 5%-7% Y/Y recurring revenue growth and an 8%-12% Y/Y adjusted EPS growth. The company also announced a 10% increase in its annual dividend to $3.52.
The positive earnings report, strong FY25 outlook, and dividend increase are likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Bahl & Gaynor Small/Mid Cap Income Growth ETF (NYSE:SMIG) provides exposure to Broadridge Financial Solutions, which reported strong Q4 FY24 results and a positive FY25 outlook.
The strong performance and outlook of Broadridge Financial Solutions could positively impact the ETF's performance, given its exposure to the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Motley Fool Mid-Cap Growth ETF (BATS:TMFM) provides exposure to Broadridge Financial Solutions, which reported strong Q4 FY24 results and a positive FY25 outlook.
The strong performance and outlook of Broadridge Financial Solutions could positively impact the ETF's performance, given its exposure to the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50