H&R Block Inc. (HRB) Rating Lowered to Sell at BTIG Research
H&R Block Inc. (NYSE:HRB) was downgraded by BTIG Research from a “neutral” rating to a “sell” rating in a research report issued on Monday. They presently have a $18.00 price target on the stock. BTIG Research’s price target would indicate a potential downside of 19.57% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on HRB. Macquarie started coverage on H&R Block in a report on Thursday, August 25th. They issued an “outperform” rating and a $28.00 price target on the stock. BMO Capital Markets increased their target price on H&R Block from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, August 31st. Piper Jaffray Cos. reiterated an “overweight” rating and set a $28.00 target price (down previously from $29.00) on shares of H&R Block in a report on Wednesday, August 31st. Morgan Stanley reiterated a “buy” rating and set a $26.00 target price on shares of H&R Block in a report on Wednesday, August 31st. Finally, Zacks Investment Research cut H&R Block from a “hold” rating to a “sell” rating in a report on Thursday, September 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.77.
Shares of H&R Block (NYSE:HRB) opened at 22.38 on Monday. The stock has a 50 day moving average price of $22.85 and a 200-day moving average price of $22.86. H&R Block has a 52 week low of $19.18 and a 52 week high of $37.35. The firm has a market capitalization of $4.90 billion, a PE ratio of 15.14 and a beta of 0.58.
H&R Block (NYSE:HRB) last released its quarterly earnings results on Tuesday, August 30th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.02. The firm earned $125 million during the quarter. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. H&R Block’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. Equities analysts anticipate that H&R Block will post $1.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 5th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, December 1st. H&R Block’s dividend payout ratio (DPR) is currently 52.69%.
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In other news, SVP Gregory J. Macfarlane bought 4,618 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average cost of $21.65 per share, with a total value of $99,979.70. Following the transaction, the senior vice president now owns 121,707 shares of the company’s stock, valued at approximately $2,634,956.55. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Palo Capital Inc. purchased a new position in shares of H&R Block during the second quarter valued at $3,170,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of H&R Block during the second quarter valued at $336,000. State of Alaska Department of Revenue purchased a new position in shares of H&R Block during the second quarter valued at $1,662,000. Capital One National Association purchased a new position in shares of H&R Block during the second quarter valued at $214,000. Finally, Punch & Associates Investment Management Inc. raised its position in shares of H&R Block by 1.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 104,284 shares of the company’s stock valued at $2,399,000 after buying an additional 1,291 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.
H&R Block Company Profile
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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