BidaskClub Lowers H&R Block, Inc. (NYSE:HRB) to Buy
H&R Block, Inc. (NYSE:HRB) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.
HRB has been the topic of several other reports. BTIG Research raised their price objective on H&R Block from $17.00 to $19.00 and gave the company a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research raised H&R Block from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, May 24th. Barrington Research raised their price objective on H&R Block from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 19th. BMO Capital Markets raised their price objective on H&R Block from $26.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, June 16th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $29.00 price objective (up from $27.00) on shares of H&R Block in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $27.67.
H&R Block (HRB) traded down 2.30% on Friday, reaching $30.53. The company’s stock had a trading volume of 2,126,298 shares. The firm has a 50-day moving average of $27.73 and a 200 day moving average of $24.16. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 16.03 and a beta of 0.54. H&R Block has a 12-month low of $19.85 and a 12-month high of $31.70.
H&R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, June 13th. The company reported $3.76 EPS for the quarter, beating the consensus estimate of $3.53 by $0.23. H&R Block had a negative return on equity of 104.14% and a net margin of 13.47%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company earned $3.16 earnings per share. H&R Block’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that H&R Block will post $1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 23rd were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This is a positive change from H&R Block’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.14%. H&R Block’s payout ratio is currently 47.76%.
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In other news, insider William C. Cobb sold 750,000 shares of H&R Block stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $30.40, for a total value of $22,800,000.00. Following the sale, the insider now directly owns 1,301,458 shares of the company’s stock, valued at $39,564,323.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Lewis sold 8,000 shares of H&R Block stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $30.01, for a total value of $240,080.00. Following the completion of the sale, the director now directly owns 82,083 shares in the company, valued at $2,463,310.83. The disclosure for this sale can be found here. Insiders sold 1,469,740 shares of company stock worth $45,195,680 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of H&R Block by 58.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,567 shares of the company’s stock worth $106,000 after buying an additional 1,682 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of H&R Block by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 4,640 shares of the company’s stock worth $108,000 after buying an additional 2,184 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of H&R Block by 15.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,343 shares of the company’s stock worth $122,000 after buying an additional 695 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of H&R Block during the first quarter worth about $122,000. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of H&R Block during the first quarter worth about $136,000. 92.99% of the stock is currently owned by hedge funds and other institutional investors.
H&R Block Company Profile
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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