H&R Block, Inc. (HRB) Price Target Raised to $27.00 at Morgan Stanley
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.
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%.
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.
Receive News & Ratings for H&R Block Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for H&R Block Inc. and related companies with MarketBeat.com's FREE daily email newsletter.