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Broadridge Financial Solutions Inc BR Stock Quote

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Morningstar‘s Stock Analysis BR

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Some Puts and Takes but Broadridge Performing Resiliently Amid Economic Uncertainty

Rajiv Bhatia, CFA Equity Analyst

Analyst Note

| Rajiv Bhatia, CFA |

Narrow-moat Broadridge reported a decent start to its fiscal year. Fiscal first-quarter revenue of $1.28 billion came in above the FactSet consensus of $1.26 billion while adjusted EPS of $0.84 missed the consensus expectation of $0.88. While the market seems to be punishing Broadridge's shares for the modest EPS miss, there was little in Broadridge's fiscal first-quarter earnings release that would alter our long-term view of the firm, and we will maintain our fair value estimate of $185 on Broadridge's shares. As is often the case following its seasonally soft fiscal first quarter, Broadridge maintained its full-year guidance.

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Business Description

Broadridge, which was spun off from ADP in 2007, is a leading provider of investor communications and technology-driven solutions to banks, broker/dealers, asset managers, wealth managers, and corporate issuers. Broadridge is composed of two segments: investor communication solutions and global technology and operations.

5 Dakota Drive, Suite 300
Lake Success, NY, 11042
T +1 516 472-5400
Industry Information Technology Services
Most Recent Earnings Sep 30, 2022
Fiscal Year End Jun 30, 2023
Employees 14,300