H&R Block’s Neutral Rating Reaffirmed at Zacks (HRB)
H&R Block (NYSE:HRB)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday, ARN reports. They currently have a $29.00 price objective on the stock. Zacks‘ price objective suggests a potential upside of 3.79% from the stock’s previous close.
Zacks‘ analyst wrote, “H&R Block’s first-quarter fiscal 2014 loss per share was wider than the Zacks Consensus Estimate and the year-ago quarter. The company s decision to vend off H&R Block Bank will free up additional capital, which can be deployed in strategic opportunities. Moreover, the implementation of Affordable Care Act will open revenue generating avenues for H&R Block. Its association with Go Health will help H&R Block foray into the health insurance brokerage business. According to management, the company has successfully captured market share in the digital online category from Intuit for the third consecutive year. It is not renewing its agreement with Wal-Mart in the U.S. as performance and results from the channel failed to match its expectations. These initiatives further reinforce its efforts to improve operational efficiency. Returning value to its shareholders will also help retain investor confidence in the stock. However, deteriorating debt-to-capital ratio and a fluctuating cash balance keeps us cautious “
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley upgraded shares of H&R Block (NYSE:HRB) from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday. They now have a $33.00 price target on the stock, up previously from $25.00. Separately, analysts at Canaccord Genuity cut their price target on shares of H&R Block (NYSE:HRB) from $24.00 to $22.15 in a research note to investors on Wednesday, September 11th. They now have a “buy” rating on the stock. Finally, analysts at Wedbush cut their price target on shares of H&R Block (NYSE:HRB) from $36.00 to $34.00 in a research note to investors on Wednesday, September 4th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. H&R Block has a consensus rating of “Buy” and a consensus price target of $29.59.
H&R Block (NYSE:HRB) traded up 4.44% on Friday, hitting $29.18. 2,862,205 shares of the company’s stock traded hands. H&R Block has a 52 week low of $16.44 and a 52 week high of $32.09. The stock has a 50-day moving average of $27.75 and a 200-day moving average of $28.77. The company has a market cap of $7.991 billion and a price-to-earnings ratio of 18.06. H&R Block also was the target of some unusual options trading on Wednesday. Stock traders purchased 8,688 put options on the company. This represents an increase of approximately 624% compared to the typical volume of 1,200 put options.
H&R Block (NYSE:HRB) last released its earnings data on Tuesday, September 3rd. The company reported ($0.42) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.37) by $0.05. The company had revenue of $127.00 million for the quarter, compared to the consensus estimate of $98.40 million. During the same quarter last year, the company posted ($0.38) earnings per share. H&R Block’s revenue was up 31.6% compared to the same quarter last year. On average, analysts predict that H&R Block will post $1.76 earnings per share for the current fiscal year.
H&R Block, Inc (NYSE:HRB) has subsidiaries that provide tax preparation and banking services.
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