Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, August 14, 2015

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC., $56.31, symbol BR on New York, hit a new all-time high this week after reporting strong quarterly results. The company 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 $171.5 million in its fiscal 2015 fourth quarter, which ended June 30, 2015. That’s up 18.6% from $144.6 million a year earlier. Earnings per share rose 20.7%, to $1.40 from $1.16, on fewer shares outstanding, beating the consensus estimate of $1.38. Revenue gained 4.9%, to $929.6 million from $885.9 million, matching the consensus forecast. The company continues to add new clients and is doing a good job of holding on to existing ones. Recurring fee revenue rose 7% in the latest quarter and accounted for 65% of the total. Broadridge expects its earnings per share to rise 8% to 12% in fiscal 2016, and the stock trades…