Broadridge Financial Solutions, Inc. BR is set to report its third-quarter fiscal 2024 results on May 8, before the bell.
The company has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average surprise of 6.5%.
Broadridge Financial Solutions, Inc. Price and EPS Surprise 
Broadridge Financial Solutions, Inc. price-eps-surprise | Broadridge Financial Solutions, Inc. Quote
Q3 Expectations
The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $1.76 billion, which indicates a 6.8% increase from the year-ago quarter’s reported figure. Expected growth is likely to have been driven by internal growth and new businesses, higher mutual fund proxy activity and higher event-driven mailings.
Our estimate for net revenues at Investor Communication Solutions is pegged at $1.33 billion, which suggests a year-over-year increase of 5.6%. Our estimate for net revenues in the Global Technology and Operations segment is pegged at $418.8 million, which indicates a year-over-year rise of 7.8%.
The consensus mark for earnings in the to-be-reported quarter is pegged at $2.23 per share, which suggests a year-over-year increase of 8.8%. We expect improved operating performance in the quarter, benefiting the bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Broadridge this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Broadridge has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks That Warrant a Look
Here are a few stocks from the broader Business Services sector, which, according to our model, have the right combination of elements to beat on earnings this season.
Envestnet ENV: The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $1.4 million, indicating 10.1% growth from the year-ago quarter. For earnings, the consensus mark is pegged at $2.6 per share, suggesting a 22.1% rise from the year-ago quarter. It has an average negative surprise of 7.7%.
ENV currently has an Earnings ESP of +1.23% and a Zacks Rank of 3. The company is scheduled to declare its first-quarter results on May 7. You can see the complete list of today’s Zacks #1 Rank stocks here.
AppLovin APP: The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $4.1 million, indicating a rise of more than 23.9% from the year-ago quarter. The consensus mark for earnings is pegged at $2.5 per share, suggesting a rise of more than 100% year-over-year. The company has an average negative surprise of 26.5%.
APP currently has an Earnings ESP of +4.39% and a Zacks Rank of 3. The company is scheduled to post its first-quarter results on May 8.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
Envestnet, Inc (ENV) : Free Stock Analysis Report
AppLovin Corporation (APP) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
