H&R Block, Inc. (NYSE:HRB) had its price objective lifted by investment analysts at Morgan Stanley from $24.00 to $27.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 7.31% from the company’s previous close.

Other analysts also recently issued research reports about the company. BTIG Research raised their price objective on H&R Block from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Wednesday. Zacks Investment Research raised H&R Block from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, June 7th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of H&R Block in a research note on Friday, March 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of H&R Block in a research note on Sunday, March 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.25.

Analyst Recommendations for H&R Block (NYSE:HRB)

Shares of H&R Block (NYSE HRB) traded up 7.93% during midday trading on Wednesday, hitting $29.13. The company had a trading volume of 15,435,492 shares. The company’s 50 day moving average is $25.79 and its 200 day moving average is $23.46. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 19.58 and a beta of 0.58. H&R Block has a one year low of $19.85 and a one year high of $29.89. H&R Block also was the target of unusually large options trading on Tuesday. Stock investors bought 4,672 put options on the stock. This is an increase of approximately 373% compared to the typical daily volume of 987 put options.

H&R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, June 13th. The company reported $3.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.53 by $0.23. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.32 billion. H&R Block had a negative return on equity of 89.55% and a net margin of 10.85%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 EPS. Equities analysts forecast that H&R Block will post $1.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 23rd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from H&R Block’s previous quarterly dividend of $0.22. H&R Block’s payout ratio is currently 63.31%.

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Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in H&R Block by 3,441.6% in the first quarter. BlackRock Inc. now owns 32,777,593 shares of the company’s stock worth $762,078,000 after buying an additional 31,852,089 shares in the last quarter. Norges Bank bought a new stake in H&R Block during the fourth quarter worth about $49,036,000. Ameriprise Financial Inc. increased its stake in H&R Block by 1,108.4% in the first quarter. Ameriprise Financial Inc. now owns 977,722 shares of the company’s stock worth $22,736,000 after buying an additional 896,811 shares in the last quarter. JPMorgan Chase & Co. increased its stake in H&R Block by 658.1% in the first quarter. JPMorgan Chase & Co. now owns 883,278 shares of the company’s stock worth $20,535,000 after buying an additional 766,763 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in H&R Block during the first quarter worth about $17,768,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

About H&R Block

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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