Broadridge Financial Solutions
BROADRIDGE FINANCIAL SOLUTIONS $37.25 (New York symbol BR; TSINetwork Rating: Extra Risk) (201-714-3000; www.broadridge.com; Shares outstanding: 119.2 million; Market cap: $4.5 billion; Dividend yield: 2.3%) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. It processes 90% of all proxy votes in the U.S. and Canada.
Without one-time items, the company earned $31.2 million in its fiscal 2014 second quarter, which ended December 31, 2013. That’s up 43.1% from $21.8 million a year earlier. Earnings per share rose 47.1%, to $0.25 from $0.17, on fewer shares outstanding.
Overall revenue gained 5.6%, to $520.6 million from $493.2 million. Revenue from contracts that pay recurring fees rose 9% and accounted for two-thirds of the total. The remaining third comes from one-time events, such as special shareholder meetings and distributing information when mutual funds change managers.
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Without one-time items, the company earned $31.2 million in its fiscal 2014 second quarter, which ended December 31, 2013. That’s up 43.1% from $21.8 million a year earlier. Earnings per share rose 47.1%, to $0.25 from $0.17, on fewer shares outstanding.
Overall revenue gained 5.6%, to $520.6 million from $493.2 million. Revenue from contracts that pay recurring fees rose 9% and accounted for two-thirds of the total. The remaining third comes from one-time events, such as special shareholder meetings and distributing information when mutual funds change managers.
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DUNDEE REIT, $28.25, symbol D.UN on Toronto, owns and manages 24.3 million square feet of office and retail space. The real estate investment trust has a 94.9% occupancy rate. As the Canadian economy improves, the trend in interest rates is likely to be upward. That rise—or the anticipation of an increase—can push down prices of REITs and high-yielding stocks, such as utilities. That’s largely why a number of REITs, including Dundee, have moved down lately. When interest rates rise, REITs may suffer because they have a lot of mortgage debt, and it’s more expensive to raise money and refinance existing loans. As well, their units, which typically offer high yields, compete with fixed-income instruments for investor interest....
BROADRIDGE FINANCIAL SOLUTIONS $32.80 (New York symbol BR; TSINetwork Rating: Extra Risk) (201-714-3000; www.broadridge.com; Shares outstanding: 119.1 million; Market cap: $3.9 billion; Dividend yield: 2.6%) continues to hit all-time highs, but we think the stock still has room to rise.
Broadridge serves the investment industry in three main areas: investor communications, securities processing and transaction clearing....
Broadridge serves the investment industry in three main areas: investor communications, securities processing and transaction clearing....
AMAZON.COM INC., $310.89, symbol AMZN on Nasdaq, won a $600-million deal to build a cloud computing service for the U.S Central Intelligence Agency early this year. This system would let the CIA more effectively connect with the broader intelligence community. The project will run over four years. However, the CIA has traditionally awarded many of its big computing contracts to IBM (New York symbol IBM), a recommendation of our Wall Street Stock Forecaster newsletter. IBM protested the awarding of this deal to Amazon, and the U.S. Government Accountability Office recommended that the CIA reopen negotiations. Immediately afterward, Amazon filed a complaint, which then led to a hearing on Monday of this week....
BROADRIDGE FINANCIAL SOLUTIONS $32.80 (New York symbol BR; TSINetwork Rating: Extra Risk) (201-714-3000; www.broadridge.com; Shares outstanding: 119.1 million; Market cap: $3.9 billion; Dividend yield: 2.6%) continues to hit all-time highs, but we think the stock still has room to rise.
Broadridge serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. It processes 90% of all proxy votes in the U.S. and Canada.
In its fiscal 2013 fourth quarter, which ended June 30, 2013, Broadridge’s earnings jumped 61.4%, to $134.6 million from $83.4 million a year earlier. Per-share earnings rose 67.2%, to $1.12 from $0.67, on fewer shares outstanding.
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Broadridge serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. It processes 90% of all proxy votes in the U.S. and Canada.
In its fiscal 2013 fourth quarter, which ended June 30, 2013, Broadridge’s earnings jumped 61.4%, to $134.6 million from $83.4 million a year earlier. Per-share earnings rose 67.2%, to $1.12 from $0.67, on fewer shares outstanding.
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BROADRIDGE FINANCIAL SOLUTIONS $30.69 (New York symbol BR; TSINetwork Rating: Extra Risk) (201-714-3000; www.broadridge.com; Shares outstanding: 121.2 million; Market cap: $3.7 billion; Dividend yield: 2.7%) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing....
BELLATRIX EXPLORATION, $7.16, symbol BXE on Toronto, continues to enter into joint ventures to speed up the development of its Cardium shale oil deposits in west-central Alberta. Under the latest agreement, Bellatrix will sell a 50% interest in its producing wells in the Ferrier and Willesden Green area to Daewoo International Corporation and Devonian Natural Resources Private Equity Fund for $52.5 million. These wells produce 268 barrels of oil equivalent per day. To put that in context, Bellatrix’s output averaged 22,102 barrels per day in the latest quarter. Following the sale, Daewoo and Devonian will invest $100 million in a multi-year program to drill 70 new wells on the Ferrier and Willesden Green properties. Bellatrix will match that spending, and the joint-venture partners will share in any new production....
BROADRIDGE FINANCIAL SOLUTIONS $30.69 (New York symbol BR; TSINetwork Rating: Extra Risk) (201-714-3000; www.broadridge.com; Shares outstanding: 121.2 million; Market cap: $3.7 billion; Dividend yield: 2.7%) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. The company processes 85% of all proxy votes in the U.S.
In its fiscal 2013 fourth quarter, which ended June 30, 2013, Broadridge’s earnings jumped 61.4%, to $134.6 million from $83.4 million a year earlier. Pershare earnings rose 67.2%, to $1.12 from $0.67, on fewer shares outstanding.
If you disregard unusual items, such as writedowns and costs to integrate recent acquisitions, Broadridge’s per-share earnings would have risen 12.7%, to $1.15 from $1.02. On that basis, the company’s latest earnings beat the consensus estimate of $1.09 a share.
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In its fiscal 2013 fourth quarter, which ended June 30, 2013, Broadridge’s earnings jumped 61.4%, to $134.6 million from $83.4 million a year earlier. Pershare earnings rose 67.2%, to $1.12 from $0.67, on fewer shares outstanding.
If you disregard unusual items, such as writedowns and costs to integrate recent acquisitions, Broadridge’s per-share earnings would have risen 12.7%, to $1.15 from $1.02. On that basis, the company’s latest earnings beat the consensus estimate of $1.09 a share.
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CONAGRA FOODS INC., $34.93, New York symbol CAG, rose 5% this week after it reported better-than-expected earnings. In its 2013 fiscal year, which ended May 26, 2013, ConAgra earned $773.9 million, or $1.85 a share. That’s up 65.4% from $467.9 million, or $1.12 a share, in 2012. These gains are mainly due to Ralcorp Holdings, the largest maker of private label food in the U.S., which ConAgra recently bought for $4.75 billion. If you disregard costs to integrate this purchase and other unusual items, ConAgra’s earnings would have risen 17.4%, to $2.16 a share from $1.84. On that basis, the latest earnings beat the consensus estimate of $2.15 a share....
AIMIA INC., $15.74, symbol AIM on Toronto, rose over 13% this week after TD Bank agreed to become the primary credit card issuer for Aeroplan, Aimia’s main loyalty program. TD is a recommendation of The Successful Investor, our newsletter that focuses on conservative Canadian investing. Aeroplan is Canada’s largest loyalty program, with over 4.6 million members who collect Aeroplan miles from participating companies. Members can exchange their miles for flights, car rentals, hotel rooms and merchandise. Under this new 10-year deal, which would begin January 1, 2014, TD will launch new credit cards under the Aeroplan banner, including cards for frequent flyers and small businesses....