Intrinsic value of Broadridge Financial Solutions - BR

Previous Close

$95.18

  Intrinsic Value

$76.59

stock screener

  Rating & Target

hold

-20%

Previous close

$95.18

 
Intrinsic value

$76.59

 
Up/down potential

-20%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of BR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  43.01
  3.40
  3.56
  3.70
  3.83
  3.95
  4.06
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.82
  4.84
  4.86
  4.87
  4.89
  4.90
  4.91
  4.92
  4.92
Revenue, $m
  4,143
  4,284
  4,436
  4,601
  4,777
  4,966
  5,167
  5,382
  5,609
  5,851
  6,108
  6,379
  6,666
  6,969
  7,289
  7,627
  7,983
  8,359
  8,754
  9,171
  9,610
  10,071
  10,557
  11,069
  11,606
  12,172
  12,766
  13,392
  14,049
  14,739
  15,465
Variable operating expenses, $m
 
  3,539
  3,661
  3,792
  3,933
  4,084
  4,245
  4,416
  4,598
  4,791
  4,996
  5,097
  5,326
  5,568
  5,824
  6,094
  6,379
  6,679
  6,995
  7,328
  7,678
  8,047
  8,436
  8,844
  9,274
  9,726
  10,201
  10,700
  11,225
  11,777
  12,357
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,611
  3,539
  3,661
  3,792
  3,933
  4,084
  4,245
  4,416
  4,598
  4,791
  4,996
  5,097
  5,326
  5,568
  5,824
  6,094
  6,379
  6,679
  6,995
  7,328
  7,678
  8,047
  8,436
  8,844
  9,274
  9,726
  10,201
  10,700
  11,225
  11,777
  12,357
Operating income, $m
  532
  745
  776
  809
  844
  882
  923
  966
  1,011
  1,060
  1,112
  1,282
  1,340
  1,401
  1,465
  1,533
  1,604
  1,680
  1,759
  1,843
  1,931
  2,024
  2,122
  2,225
  2,333
  2,446
  2,566
  2,691
  2,823
  2,962
  3,108
EBITDA, $m
  706
  914
  946
  981
  1,019
  1,059
  1,102
  1,148
  1,196
  1,248
  1,302
  1,360
  1,421
  1,486
  1,554
  1,626
  1,702
  1,782
  1,867
  1,956
  2,049
  2,148
  2,251
  2,360
  2,475
  2,596
  2,722
  2,856
  2,996
  3,143
  3,298
Interest expense (income), $m
  43
  45
  48
  51
  55
  59
  63
  67
  71
  76
  81
  87
  93
  99
  105
  112
  119
  127
  135
  143
  152
  161
  171
  181
  192
  204
  216
  228
  241
  255
  270
Earnings before tax, $m
  488
  700
  728
  757
  789
  823
  860
  899
  940
  984
  1,030
  1,195
  1,247
  1,302
  1,360
  1,421
  1,485
  1,553
  1,625
  1,700
  1,779
  1,863
  1,951
  2,043
  2,140
  2,243
  2,350
  2,463
  2,582
  2,707
  2,838
Tax expense, $m
  161
  189
  196
  204
  213
  222
  232
  243
  254
  266
  278
  323
  337
  352
  367
  384
  401
  419
  439
  459
  480
  503
  527
  552
  578
  606
  635
  665
  697
  731
  766
Net income, $m
  327
  511
  531
  553
  576
  601
  628
  656
  686
  718
  752
  872
  910
  950
  993
  1,037
  1,084
  1,134
  1,186
  1,241
  1,299
  1,360
  1,424
  1,492
  1,563
  1,637
  1,716
  1,798
  1,885
  1,976
  2,072

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  271
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,150
  2,977
  3,083
  3,197
  3,320
  3,451
  3,591
  3,740
  3,898
  4,066
  4,244
  4,433
  4,632
  4,843
  5,065
  5,300
  5,548
  5,809
  6,084
  6,373
  6,678
  6,999
  7,337
  7,692
  8,066
  8,459
  8,872
  9,306
  9,763
  10,243
  10,747
Adjusted assets (=assets-cash), $m
  2,879
  2,977
  3,083
  3,197
  3,320
  3,451
  3,591
  3,740
  3,898
  4,066
  4,244
  4,433
  4,632
  4,843
  5,065
  5,300
  5,548
  5,809
  6,084
  6,373
  6,678
  6,999
  7,337
  7,692
  8,066
  8,459
  8,872
  9,306
  9,763
  10,243
  10,747
Revenue / Adjusted assets
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
  1.439
Average production assets, $m
  447
  463
  479
  497
  516
  536
  558
  581
  606
  632
  660
  689
  720
  753
  787
  824
  862
  903
  945
  990
  1,038
  1,088
  1,140
  1,195
  1,253
  1,315
  1,379
  1,446
  1,517
  1,592
  1,670
Working capital, $m
  245
  -26
  -27
  -28
  -29
  -30
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -60
  -63
  -66
  -70
  -73
  -77
  -80
  -84
  -88
  -93
Total debt, $m
  1,102
  1,174
  1,253
  1,338
  1,429
  1,527
  1,631
  1,742
  1,860
  1,985
  2,118
  2,258
  2,407
  2,564
  2,730
  2,905
  3,089
  3,283
  3,488
  3,704
  3,931
  4,170
  4,422
  4,686
  4,965
  5,258
  5,565
  5,889
  6,229
  6,587
  6,963
Total liabilities, $m
  2,146
  2,218
  2,297
  2,382
  2,473
  2,571
  2,675
  2,786
  2,904
  3,029
  3,162
  3,302
  3,451
  3,608
  3,774
  3,949
  4,133
  4,327
  4,532
  4,748
  4,975
  5,214
  5,466
  5,730
  6,009
  6,302
  6,609
  6,933
  7,273
  7,631
  8,007
Total equity, $m
  1,004
  759
  786
  815
  847
  880
  916
  954
  994
  1,037
  1,082
  1,130
  1,181
  1,235
  1,292
  1,352
  1,415
  1,481
  1,551
  1,625
  1,703
  1,785
  1,871
  1,961
  2,057
  2,157
  2,262
  2,373
  2,490
  2,612
  2,741
Total liabilities and equity, $m
  3,150
  2,977
  3,083
  3,197
  3,320
  3,451
  3,591
  3,740
  3,898
  4,066
  4,244
  4,432
  4,632
  4,843
  5,066
  5,301
  5,548
  5,808
  6,083
  6,373
  6,678
  6,999
  7,337
  7,691
  8,066
  8,459
  8,871
  9,306
  9,763
  10,243
  10,748
Debt-to-equity ratio
  1.098
  1.550
  1.590
  1.640
  1.690
  1.740
  1.780
  1.830
  1.870
  1.910
  1.960
  2.000
  2.040
  2.080
  2.110
  2.150
  2.180
  2.220
  2.250
  2.280
  2.310
  2.340
  2.360
  2.390
  2.410
  2.440
  2.460
  2.480
  2.500
  2.520
  2.540
Adjusted equity ratio
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  327
  511
  531
  553
  576
  601
  628
  656
  686
  718
  752
  872
  910
  950
  993
  1,037
  1,084
  1,134
  1,186
  1,241
  1,299
  1,360
  1,424
  1,492
  1,563
  1,637
  1,716
  1,798
  1,885
  1,976
  2,072
Depreciation, amort., depletion, $m
  174
  168
  170
  172
  175
  177
  179
  182
  185
  188
  191
  78
  82
  86
  89
  94
  98
  103
  107
  113
  118
  124
  130
  136
  142
  149
  157
  164
  172
  181
  190
Funds from operations, $m
  541
  679
  701
  725
  751
  778
  807
  838
  871
  906
  943
  951
  992
  1,036
  1,082
  1,131
  1,182
  1,236
  1,294
  1,354
  1,417
  1,484
  1,554
  1,627
  1,705
  1,787
  1,872
  1,962
  2,057
  2,157
  2,262
Change in working capital, $m
  25
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
Cash from operations, $m
  516
  680
  702
  726
  752
  779
  808
  839
  872
  907
  944
  952
  994
  1,038
  1,084
  1,133
  1,184
  1,239
  1,296
  1,356
  1,420
  1,486
  1,557
  1,630
  1,708
  1,790
  1,876
  1,966
  2,061
  2,161
  2,266
Maintenance CAPEX, $m
  0
  -51
  -53
  -54
  -56
  -59
  -61
  -63
  -66
  -69
  -72
  -75
  -78
  -82
  -86
  -89
  -94
  -98
  -103
  -107
  -113
  -118
  -124
  -130
  -136
  -142
  -149
  -157
  -164
  -172
  -181
New CAPEX, $m
  -204
  -16
  -16
  -18
  -19
  -20
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -35
  -36
  -38
  -41
  -43
  -45
  -47
  -50
  -52
  -55
  -58
  -61
  -64
  -68
  -71
  -75
  -78
Cash from investing activities, $m
  -659
  -67
  -69
  -72
  -75
  -79
  -83
  -86
  -91
  -95
  -100
  -104
  -109
  -115
  -121
  -125
  -132
  -139
  -146
  -152
  -160
  -168
  -176
  -185
  -194
  -203
  -213
  -225
  -235
  -247
  -259
Free cash flow, $m
  -143
  614
  633
  654
  676
  700
  726
  753
  782
  812
  845
  848
  885
  923
  964
  1,007
  1,052
  1,100
  1,151
  1,204
  1,260
  1,318
  1,380
  1,446
  1,514
  1,586
  1,662
  1,742
  1,826
  1,914
  2,007
Issuance/(repayment) of debt, $m
  85
  72
  79
  85
  91
  98
  104
  111
  118
  125
  133
  140
  149
  157
  166
  175
  184
  194
  205
  216
  227
  239
  252
  265
  278
  293
  308
  324
  340
  358
  376
Issuance/(repurchase) of shares, $m
  -282
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -160
  72
  79
  85
  91
  98
  104
  111
  118
  125
  133
  140
  149
  157
  166
  175
  184
  194
  205
  216
  227
  239
  252
  265
  278
  293
  308
  324
  340
  358
  376
Total cash flow (excl. dividends), $m
  -305
  686
  712
  739
  768
  798
  830
  864
  900
  938
  978
  989
  1,033
  1,080
  1,130
  1,182
  1,237
  1,295
  1,355
  1,419
  1,487
  1,558
  1,632
  1,710
  1,793
  1,879
  1,970
  2,066
  2,166
  2,272
  2,382
Retained Cash Flow (-), $m
  42
  -26
  -27
  -29
  -31
  -33
  -36
  -38
  -40
  -43
  -45
  -48
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -86
  -91
  -95
  -100
  -105
  -111
  -116
  -122
  -129
Prev. year cash balance distribution, $m
 
  271
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  930
  685
  710
  736
  764
  794
  826
  859
  895
  932
  941
  982
  1,026
  1,073
  1,122
  1,174
  1,228
  1,285
  1,346
  1,409
  1,476
  1,546
  1,620
  1,697
  1,779
  1,865
  1,955
  2,050
  2,149
  2,254
Discount rate, %
 
  4.90
  5.15
  5.40
  5.67
  5.96
  6.25
  6.57
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
PV of cash for distribution, $m
 
  887
  620
  606
  591
  572
  552
  529
  504
  477
  448
  404
  374
  343
  311
  280
  249
  218
  189
  162
  136
  113
  93
  74
  59
  45
  34
  26
  19
  13
  9
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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's segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment. The Company offers a middle- and back-office securities processing platform for North American and global broker-dealers. Its services include investor and customer communications, securities processing, and data and analytics solutions. The Company delivers a range of solutions that helps its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing functionality.

FINANCIAL RATIOS  of  Broadridge Financial Solutions (BR)

Valuation Ratios
P/E Ratio 33.9
Price to Sales 2.7
Price to Book 11
Price to Tangible Book
Price to Cash Flow 21.5
Price to Free Cash Flow 35.5
Growth Rates
Sales Growth Rate 43%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 168.4%
Cap. Spend. - 3 Yr. Gr. Rate 30.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 109.8%
Total Debt to Equity 109.8%
Interest Coverage 12
Management Effectiveness
Return On Assets 11.8%
Ret/ On Assets - 3 Yr. Avg. 12.5%
Return On Total Capital 15.7%
Ret/ On T. Cap. - 3 Yr. Avg. 17%
Return On Equity 31.9%
Return On Equity - 3 Yr. Avg. 31.2%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 24.9%
Gross Margin - 3 Yr. Avg. 29.6%
EBITDA Margin 17%
EBITDA Margin - 3 Yr. Avg. 19.4%
Operating Margin 12.8%
Oper. Margin - 3 Yr. Avg. 15.8%
Pre-Tax Margin 11.8%
Pre-Tax Margin - 3 Yr. Avg. 14.8%
Net Profit Margin 7.9%
Net Profit Margin - 3 Yr. Avg. 9.7%
Effective Tax Rate 33%
Eff/ Tax Rate - 3 Yr. Avg. 34%
Payout Ratio 46.5%

BR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BR stock intrinsic value calculation we used $4143 million for the last fiscal year's total revenue generated by Broadridge Financial Solutions. The default revenue input number comes from 2017 income statement of Broadridge Financial Solutions. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BR stock valuation model: a) initial revenue growth rate of 3.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.9%, whose default value for BR is calculated based on our internal credit rating of Broadridge Financial Solutions, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Broadridge Financial Solutions.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BR stock the variable cost ratio is equal to 82.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.1% for Broadridge Financial Solutions.

Corporate tax rate of 27% is the nominal tax rate for Broadridge Financial Solutions. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BR are equal to 10.8%.

Life of production assets of 8.8 years is the average useful life of capital assets used in Broadridge Financial Solutions operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BR is equal to -0.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1004 million for Broadridge Financial Solutions - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 116.913 million for Broadridge Financial Solutions is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Broadridge Financial Solutions at the current share price and the inputted number of shares is $11.1 billion.

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COMPANY NEWS

▶ Broadridge Financial Solutions Sees Composite Rating Move Up To 96   [Jan-16-18 03:00AM  Investor's Business Daily]
▶ Top 3 Growth Stocks for 2018   [Jan-10-18 04:58PM  Investopedia]
▶ Broadridge Declares Quarterly Dividend of $0.365 per Share   [Nov-16-17 12:45PM  GlobeNewswire]
▶ Top 3 Growth Stocks for 2017   [Nov-08-17 10:45AM  Investopedia]
▶ Broadridge Financial tops 1Q profit forecasts   [08:55AM  Associated Press]
▶ 3 Dividend Stocks Ideal for Your Golden Years   [Oct-22-17 06:00AM  Motley Fool]
▶ Retail Shares Matter Against Activism, Says Daly   [Oct-11-17 10:47AM  Bloomberg Video]
▶ Broadridge Financial Solutions Earns Composite Rating Upgrade   [Oct-10-17 03:00AM  Investor's Business Daily]
▶ New Strong Buy Stocks for October 4th   [Oct-04-17 09:52AM  Zacks]
▶ Stocks With Rising Relative Strength: Broadridge Financial Solutions   [Sep-06-17 03:00AM  Investor's Business Daily]
▶ Outsourcing Picks: Better Digital Ops, and Fast   [Aug-29-17 03:54PM  Zacks]
▶ New Strong Buy Stocks for August 25th   [Aug-25-17 11:39AM  Zacks]
▶ New Strong Buy Stocks for August 22nd   [Aug-22-17 10:21AM  Zacks]
▶ Top Ranked Growth Stocks to Buy for August 17th   [Aug-17-17 09:42AM  Zacks]
▶ Broadridge Financial meets 4Q profit forecasts   [Aug-10-17 11:51PM  Associated Press]
▶ Broadridge Financial meets 4Q profit forecasts   [07:26AM  Associated Press]
▶ Broadridge Appoints Tim Gokey President   [04:30PM  GlobeNewswire]
▶ Bigger Fund Flows Stem From Low-Fee Funds and ETF's   [Aug-01-17 04:01PM  TheStreet.com]
Financial statements of BR
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