Zacks reaffirmed their neutral rating on shares of H&R Block (NYSE: HRB) in a research note released on Monday morning. They currently have a $29.00 price target on the stock.

Zacks’ analyst wrote, “H&R Block’s fiscal third quarter loss per share widened over the Zacks Consensus Estimate. Decline in revenue induced weaker numbers in the reported quarter. However, cost reduction initiatives and income tax benefit resulting from a settlement with the IRS limited the downside. Top line tumbled due to timing issues from the IRS opening its e-file system on Jan 30 and thereafter deferral to the commencement of the U.S. tax season. Though the company experienced lower tax preparation, it was better than the industry average at a decline of 8%. H&R Block continues to expect cost reduction initiatives to help it deliver $85 to $100 million of pretax earnings in fiscal 2013. Its agreement with Sears Holdings entails the company will focus on 112 best performing Sears locations, while shutting down the rest. H&R Block expects this move to be slightly accretive to fiscal 2013 earnings. We currently have Neutral recommendation on H&R Block. “

H&R Block traded down 0.40% on Monday, hitting $27.60. H&R Block has a 1-year low of $14.35 and a 1-year high of $27.71. The stock’s 50-day moving average is currently $24.27. The company has a market cap of $7.495 billion and a price-to-earnings ratio of 21.73.

The company also recently announced a quarterly dividend, which is scheduled for Monday, April 1st. Stockholders of record on Monday, March 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, March 14th.

Several other analysts have also recently commented on the stock. Analysts at BTIG Research reiterated a buy rating on shares of H&R Block in a research note to investors on Monday. They now have a $31.00 price target on the stock, up previously from $27.00. Separately, analysts at Morgan Stanley upgraded shares of H&R Block from an underweight rating to an equal weight rating in a research note to investors on Friday, March 8th. They now have a $23.00 price target on the stock, up previously from $17.00. Finally, analysts at Oppenheimer reiterated an outperform rating on shares of H&R Block in a research note to investors on Friday, March 8th. They now have a $29.00 price target on the stock, up previously from $27.00.

Four research analysts have rated the stock with a buy rating, and four have given a hold rating to the company. H&R Block currently has a consensus rating of overweight and an average target price of $27.67.

H&R Block, Inc. (H&R Block) has subsidiaries that provide tax, banking, and business and consulting services.

To view Zacks’ full report, visit www.zacks.com

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