Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, August 13, 2010

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC., $20.19, New York symbol BR, serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. Broadridge mails and processes 70% of all proxy votes. In its 2010 fiscal year, which ended June 30, 2010, Broadridge earned $225.1 million. That’s up 0.9% from $223.1 million in fiscal 2009. Earnings per share rose 2.5%, to $1.62 from $1.58, on fewer shares outstanding. If you exclude unusual items, mostly income tax gains, Broadridge’s per-share earnings rose 3.3%, to $1.56 from $1.51. On that basis, the latest earnings still fell short of the consensus estimate of $1.57 a share. Revenue rose 6.6%, to $2.2 billion from $2.1 billion. The company’s strong reputation continues to help it hang on to its current clients, and attract new ones. Two large mutual-fund proxy votes also contributed to the higher revenue. Broadridge should continue to benefit as securities regulations continue to become more complex. The company plans to buy back…