It has been about a month since the last earnings report for Broadridge Financial Solutions (BR). Shares have added about 1.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Broadridge Financial due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Broadridge Q1 Earnings Miss EstimatesBroadridge reported dismal first-quarter fiscal 2020 results missing the Zacks Consensus Estimate on both earnings and revenues.Adjusted earnings of 68 cents per share missed the consensus estimate by 4 cents and were down 14% year over year. Total revenues of $949 million lagged the consensus mark by around $32 million and were down 2% year over year. The company generated closed sales of $38 million in the quarter, up 103% year over year.Revenues by SegmentRevenues in the Investor Communication Solutions segment declined 7% from the year-ago quarter’s level to $703 million. Global Technology and Operations segment revenues came in at $274 million, up 15% from the year-ago quarter’s figure. The improvement was driven by acquisitions and organic growth.Revenues by TypeRecurring fee revenues of $623 million increased 8% from the year-ago quarter’s level. Event-driven fee revenues of $40 million decreased 48% year over year. Distribution revenues were down 8% year over year to $313 million.Operating ResultsAdjusted operating income of $104 million declined 16% year over year. Adjusted operating income margin declined to 10.9% from 12.6% in the prior-year quarter.Balance Sheet and Cash FlowBroadridge exited the first quarter with cash and cash equivalents of $358.3 million compared with $273.2 million at the end of the prior quarter. Long-term debt was $1.37 billion compared with $1.47 billion at the end of the prior quarter.The company used $86.4 million of cash in operating activities and capex was $20.2 million in the quarter. Non-GAAP free cash flow was $106.7 million. Broadridge paid out $55.4 million in dividends in the reported quarter.GuidanceBroadridge reiterated fiscal year 2020 guidance.Total revenues are expected to grow 3-6%. Recurring fee revenue growth is anticipated in the range of 8-10%. Adjusted operating income margin is estimated approximately 18%. Closed sales are anticipated between $190 million and $230 million. Adjusted EPS are expected to register 8-12% growth.How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.VGM ScoresAt this time, Broadridge Financial has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, Broadridge Financial has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Broadridge Financial Solutions, Inc. (BR): Free Stock Analysis Report To read this article on Zacks.com click here.