Brokerages Anticipate Liberty Tax Inc. (NASDAQ:TAX) to Post ($0.71) Earnings Per Share
Liberty Tax Inc. (NASDAQ:TAX) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price objective of $18.00 for the company and are predicting that the company will post ($0.71) earnings per share for the current quarter, according to Zacks. Zacks has also given Liberty Tax an industry rank of 155 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Liberty Tax from a “strong sell” rating to a “hold” rating in a report on Thursday, August 25th.
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Liberty Tax (NASDAQ:TAX) remained flat at $12.76 on Wednesday. 28,475 shares of the company traded hands. The firm has a market cap of $177.29 million, a PE ratio of 9.57 and a beta of 0.68. Liberty Tax has a one year low of $9.95 and a one year high of $24.44. The firm has a 50-day moving average of $13.42 and a 200-day moving average of $14.08.
Liberty Tax (NASDAQ:TAX) last released its earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.02. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $7.25 million. Liberty Tax had a net margin of 9.16% and a return on equity of 18.09%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. Equities research analysts predict that Liberty Tax will post $1.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Wednesday, October 12th. Liberty Tax’s dividend payout ratio is currently 52.89%.
In other Liberty Tax news, Director Robert M. Howard bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was purchased at an average price of $12.66 per share, with a total value of $126,600.00. Following the transaction, the director now owns 60,000 shares in the company, valued at $759,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ellen M. Mcdowell sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $13.48, for a total transaction of $26,960.00. Following the sale, the director now directly owns 48,641 shares of the company’s stock, valued at approximately $655,680.68. The disclosure for this sale can be found here. Insiders own 46.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Continental Advisors LLC increased its stake in Liberty Tax by 303.9% in the second quarter. Continental Advisors LLC now owns 208,730 shares of the company’s stock worth $2,780,000 after buying an additional 157,050 shares during the period. Citadel Advisors LLC acquired a new stake in Liberty Tax during the second quarter worth about $158,000. Summit Securities Group LLC acquired a new stake in Liberty Tax during the second quarter worth about $529,000. State Street Corp increased its stake in Liberty Tax by 1.2% in the second quarter. State Street Corp now owns 61,172 shares of the company’s stock worth $816,000 after buying an additional 730 shares during the period. Finally, TFS Capital LLC acquired a new stake in Liberty Tax during the second quarter worth about $926,000. 40.52% of the stock is owned by hedge funds and other institutional investors.
Liberty Tax Company Profile
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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