Financial technology provider Broadridge (NYSE:BR) will be announcing earnings results this Thursday before market hours. Here’s what you need to know.
Broadridge beat analysts’ revenue expectations last quarter, reporting revenues of $1.71 billion, up 7.8% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
Is Broadridge a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Broadridge’s revenue to grow 5% year on year, in line with the 4.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Broadridge has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Broadridge’s peers in the data & business process services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. SS&C delivered year-on-year revenue growth of 8.8%, beating analysts’ expectations by 1.1%, and Equifax reported revenues up 14.3%, topping estimates by 2%. SS&C traded down 4% following the results while Equifax was also down 10%.
Read our full analysis of SS&C’s results here and Equifax’s results here.
There has been positive sentiment among investors in the data & business process services segment, with share prices up 13.1% on average over the last month. Broadridge is down 3.3% during the same time and is heading into earnings with an average analyst price target of $245.88 (compared to the current share price of $158.00).
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