“Reiterating Sell While Raising PT to $21 (from $19) H&R Block (HRB) yesterday after the market close posted a narrower- than-expected 3Q18 loss per share in a mostly off-season quarter. Investors’ focus with regard to any of the company’s 3Q reports is almost always on its volume performance through the first half of the tax season. HRB also outperformed in that regard, beating the IRS’s reported e-filing statistics through February 23 in both the assisted and do-it-yourself (DIY) categories. Management also reiterated the FY18 guidance they had provided in December.”,” BTIG Research’s analyst commented.
Several other research analysts have also issued reports on HRB. BMO Capital Markets reissued a market perform rating and issued a $30.00 target price on shares of H & R Block in a research report on Thursday, December 7th. Oppenheimer reissued a hold rating on shares of H & R Block in a research report on Thursday, December 7th. Zacks Investment Research lowered H & R Block from a hold rating to a sell rating in a research report on Friday, December 8th. ValuEngine raised H & R Block from a hold rating to a buy rating in a research report on Wednesday, January 10th. Finally, Northcoast Research raised H & R Block from a neutral rating to a buy rating and decreased their target price for the stock from $25.02 to $24.69 in a research report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $27.67.
H & R Block (NYSE:HRB) last released its quarterly earnings results on Tuesday, March 6th. The company reported ($1.16) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.13. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $459.14 million. H & R Block had a negative return on equity of 77.32% and a net margin of 8.19%. H & R Block’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.49) EPS. equities research analysts forecast that H & R Block will post 2.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Tuesday, March 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, March 12th. H & R Block’s dividend payout ratio is currently 79.34%.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of H & R Block by 3.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,553,820 shares of the company’s stock worth $171,840,000 after buying an additional 199,162 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of H & R Block by 2.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,302,315 shares of the company’s stock worth $166,885,000 after buying an additional 157,794 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of H & R Block by 21.1% in the 4th quarter. APG Asset Management N.V. now owns 4,925,349 shares of the company’s stock worth $107,547,000 after buying an additional 859,300 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of H & R Block by 58.9% in the 4th quarter. Schroder Investment Management Group now owns 4,594,678 shares of the company’s stock worth $120,472,000 after buying an additional 1,703,381 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of H & R Block in the 4th quarter worth approximately $106,233,000. 95.27% of the stock is owned by hedge funds and other institutional investors.
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About H & R Block
H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.
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