Broadridge’s opportunities keep growing

Article Excerpt

Broadridge Financial is positioned to keep doing well during the pandemic. From March of last year, the stock has jumped to new all-time highs, and is now up 80.6%. Meantime, we think this Power Buy is poised to keep moving even higher. BROADRIDGE FINANCIAL SOLUTIONS $146.75 (New York symbol BR; TSINetwork Rating: Average) (www.broadridge.com; Shares o/s: 115.8 million; Market cap: $17.1 billion; Dividend yield: 1.6%) serves the investment industry in three main areas: investor communications, securities processing, and transaction clearing. In its fiscal 2021 second quarter, ended December 31, 2020, revenue rose 8.9%, to $1.05 billion from $968.7 million a year earlier. Broadridge benefited from signing up new clients. Excluding one-time items, the company earned $0.73 in the latest quarter. That’s up 37.7% from $0.53. Broadridge’s higher profits came from the increased revenue plus expense-cutting measures. The company continues to partner with IBM (symbol IBM on New York and a recommendation of our Wall Street Stock Forecaster newsletter) to create cloud-based solutions for clients in the financial services area. As…