Broadridge Financial Solutions Inc (BR)
Broadridge Financial Solutions is a public corporate services company founded in 2007 as a spin-off from Automatic Data Processing. The main business of Broadridge is as a service provider supplying public companies with proxy statements, annual reports and other financial documents, and shareholder communications solutions, such as virtual annual meetings.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 30.53% per annum.
- BR price at the close of October 18, 2024 was $219.10 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 11.55% per annum.
- BR price at the close of October 18, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of BR price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: October 7, 2022
End date: October 18, 2024
a = 4.0868
b = 0.0007
s = 0.0502
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0007) – 1
= 30.53%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0502) – 1
= 22.25%
October 7, 2022 calculations
Top border of price channel:
Exp(Y747)
= Exp(a + b × X747 + 2 × s)
= Exp(a + b × 1,082 + 2 × s)
= Exp(4.0868 + 0.0007 × 1,082 + 2 × 0.0502)
= Exp(4.9772)
= $145.07
Bottom border of price channel:
Exp(Y747)
= Exp(a + b × X747 – 2 × s)
= Exp(a + b × 1,082 – 2 × s)
= Exp(4.0868 + 0.0007 × 1,082 – 2 × 0.0502)
= Exp(4.7763)
= $118.66
October 18, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(4.0868 + 0.0007 × 1,824 + 2 × 0.0502)
= Exp(5.5189)
= $249.36
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(4.0868 + 0.0007 × 1,824 – 2 × 0.0502)
= Exp(5.3180)
= $203.98
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 30.53% per annum.
- BR price at the close of October 18, 2024 was $219.10 and was inside the primary price channel.
Secondary Trend
Start date: November 29, 2023
End date: October 18, 2024
a = 4.8084
b = 0.0003
s = 0.0254
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0003) – 1
= 11.55%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0254) – 1
= 10.68%
November 29, 2023 calculations
Top border of price channel:
Exp(Y1,034)
= Exp(a + b × X1,034 + 2 × s)
= Exp(a + b × 1,500 + 2 × s)
= Exp(4.8084 + 0.0003 × 1,500 + 2 × 0.0254)
= Exp(5.3083)
= $202.02
Bottom border of price channel:
Exp(Y1,034)
= Exp(a + b × X1,034 – 2 × s)
= Exp(a + b × 1,500 – 2 × s)
= Exp(4.8084 + 0.0003 × 1,500 – 2 × 0.0254)
= Exp(5.2069)
= $182.52
October 18, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(4.8084 + 0.0003 × 1,824 + 2 × 0.0254)
= Exp(5.4054)
= $222.60
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(4.8084 + 0.0003 × 1,824 – 2 × 0.0254)
= Exp(5.3039)
= $201.12
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 11.55% per annum.
- BR price at the close of October 18, 2024 was inside the secondary price channel.