F4Q26 EPS Recap – Sigh of Relief on Closed Sales; Stock Debate (Rightly or Wrongly) Shifting From Tokenization to Competition

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M

Update

August 5, 2026 10:45 AM GMT

Broadridge Financial Solutions Inc. | North America

Morgan Stanley & Co. LLC

James E Faucette

Equity Analyst

F4Q26 EPS Recap – Sigh of

Relief on Closed Sales; Stock

Debate (Rightly or Wrongly)

Shifting From Tokenization to

Competition

What’s Changed

Broadridge Financial Solutions Inc. (BR.N)

From

To

Price Target

$169.00

$176.00

4Q was better than feared, with higher-quality internal growth

and a sharp closed-sales recovery supporting FY27. Still, with

position growth running hot and bookings acceleration already

expected, we stay EW as risk-reward appears relatively balanced.

Key Takeaways

Internal growth accelerated to 4pts in 4Q, led by ICS, providing higher-quality

upside given faster revenue conversion. Position growth should normalize in 1H27

Closed sales execution was a relief, but durability remains unproven after the

prior guide cut and FY27 target at $290–$330mm

The $470mm backlog should support ~5pts of FY27 recurring rev growth,

helping bridge normalizing position growth and underpinning the 6%–8%

Michael N Infante

Equity Analyst

Meryl R Thomas, CFA

Equity Analyst

Shefali Tamaskar

Research Associate

Broadridge Financial Solutions Inc. (BR.N, BR UN)

Payments and Processing | United States of America

Stock Rating

Industry View

Price target

Shr price, close (Aug 4, 2026)

Mkt cap, curr (mm)

52-Week Range

Fiscal Year Ending

Equal-weight

Attractive

$176.00

$168.41

$19,856

$271.40-133.97

06/26 06/27e 06/28e 06/29e

EPS ($)**

Prior EPS ($)**

P/E

EPS ($)§

Div yld (%)

9.60

9.58

14.3

9.55

2.8

10.53

10.57

18.3

10.41

2.4

11.55

11.62

16.6

11.45

2.5

12.57

15.2

12.98

2.5

Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare

framework

** = Based on consensus methodology

§ = Consensus data is provided by Refinitiv Estimates

e = Morgan Stanley Research estimates

Quarterly EPS ($)

Quarter

2026

Q1

Q2

Q3

Q4

1.51

1.59

2.72

3.82

2027e 2027e

Prior Current

1.55

1.74

3.08

4.20

1.29

1.71

3.05

4.49

2028e 2028e

Prior Current

1.73

1.94

3.38

4.57

1.47

1.91

3.34

4.83

e = Morgan Stanley Research estimates

recurring outlook

…