Liberty Tax Inc. (TAX) To Go Ex-Dividend on October 12th
Liberty Tax Inc. (NASDAQ:TAX) announced a quarterly dividend on Friday, September 2nd. Stockholders of record on Friday, October 14th will be given a dividend of 0.16 per share on Monday, October 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Wednesday, October 12th.
Shares of Liberty Tax (NASDAQ:TAX) opened at 12.70 on Tuesday. The stock’s 50 day moving average is $13.08 and its 200-day moving average is $13.56. Liberty Tax has a 12-month low of $9.95 and a 12-month high of $24.22. The firm has a market cap of $176.45 million, a price-to-earnings ratio of 9.53 and a beta of 0.70.
Liberty Tax (NASDAQ:TAX) last announced its earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.02. The business earned $7.10 million during the quarter, compared to analysts’ expectations of $7.25 million. Liberty Tax had a net margin of 9.16% and a return on equity of 18.09%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.65) EPS. On average, analysts anticipate that Liberty Tax will post $1.39 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Liberty Tax from a “strong sell” rating to a “hold” rating in a report on Thursday, August 25th.
In other Liberty Tax news, Director Robert M. Howard bought 10,000 shares of Liberty Tax stock in a transaction dated Friday, September 16th. The shares were bought at an average price of $12.66 per share, with a total value of $126,600.00. Following the purchase, the director now owns 60,000 shares of the company’s stock, valued at $759,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ellen M. Mcdowell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $14.01, for a total transaction of $28,020.00. Following the completion of the transaction, the director now directly owns 46,641 shares in the company, valued at approximately $653,440.41. The disclosure for this sale can be found here. 46.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. TFS Capital LLC acquired a new position in shares of Liberty Tax during the second quarter valued at about $926,000. Summit Securities Group LLC purchased a new stake in shares of Liberty Tax during the second quarter worth $529,000. BlackRock Fund Advisors increased its stake in shares of Liberty Tax by 16.0% in the second quarter. BlackRock Fund Advisors now owns 179,731 shares of the company’s stock worth $2,394,000 after buying an additional 24,762 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Liberty Tax during the second quarter worth $158,000. Finally, BlackRock Investment Management LLC increased its stake in shares of Liberty Tax by 27.9% in the second quarter. BlackRock Investment Management LLC now owns 25,140 shares of the company’s stock worth $335,000 after buying an additional 5,486 shares in the last quarter. 40.52% of the stock is currently owned by institutional investors.
About Liberty Tax
Liberty Tax, Inc is the holding company for JTH Tax, Inc The Company is a provider of tax preparation services. The Company provides retail federal and state income tax preparation services and related tax settlement products in the United States and Canada. The Company’s tax preparation services and related tax settlement products are offered primarily through franchised locations.
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