This is our first report on Broadridge Financial Solutions, a major investor communications and technology-driven solutions provider for the financial services industry. The company delivered a mixed set of results for the quarter meeting revenue expectations of Wall Street but missing out on earnings. It has seen a continuous expansion in investor positions, notwithstanding the market downturn. Given their forward testing, Broadridge anticipates steady growth in investor positions throughout the coming two quarters. As their clients continue to push for technology modernization, their discussions with their large broker-dealer and asset manager clients also remain favorable. Broadridge’s ability to generate robust growth through the ups and downs of the financial cycle depends on their ability to deliver mission-critical services that support investment in governance. The last results increase their confidence in their prediction of mid-to-high single-digit growth for the entire year. We initiate coverage on the stock of Broadridge with an ‘Outperform’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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