Earnings Growth & Price Strength Make Broadridge Financial Solutions (BR) a Stock to Watch
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Broadridge Financial Solutions (BR)
Based in Lake Success, NY, Broadridge is a global financial technology company that offers investor communications and technology-driven solutions to banks, broker-dealers, asset managers and corporate issuers. The company is a leading producer and distributor of a variety of documents, widely used in the financial industry including proxies, annual reports, prospectuses and trade confirmations.
Since being added to the Zacks Focus List on August 29, 2017 at $76.91 per share, shares of BR have increased 128.88% to $176.03.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.13 to $7.09. BR boasts an average earnings surprise of 4.1%.
Moreover, analysts are expecting Broadridge Financial Solutions' earnings to grow 9.8% for the current fiscal year.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like BR offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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