H&R Block, Inc. (HRB) Expected to Announce Quarterly Sales of $128.40 Million
Analysts expect H&R Block, Inc. (NYSE:HRB) to post $128.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for H&R Block’s earnings, with estimates ranging from $123.80 million to $133.00 million. H&R Block reported sales of $131.33 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.2%. The firm is expected to issue its next quarterly earnings report on Wednesday, December 6th.
On average, analysts expect that H&R Block will report full year sales of $128.40 million for the current financial year, with estimates ranging from $3.00 billion to $3.09 billion. For the next year, analysts forecast that the business will post sales of $3.04 billion per share, with estimates ranging from $2.95 billion to $3.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for H&R Block.
H&R Block (NYSE:HRB) last announced its quarterly earnings results on Tuesday, August 29th. The company reported ($0.62) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.62). H&R Block had a net margin of 13.19% and a negative return on equity of 101.42%. The firm had revenue of $138 million during the quarter, compared to analysts’ expectations of $129.33 million. During the same period in the prior year, the company earned ($0.56) EPS. The firm’s revenue was up 10.4% on a year-over-year basis.
A number of research firms have recently weighed in on HRB. BidaskClub upgraded shares of H&R Block from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Morgan Stanley raised their price target on shares of H&R Block from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, June 14th. BTIG Research raised their price target on shares of 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 upgraded shares of H&R Block from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, June 7th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $31.00 target price on shares of H&R Block in a research note on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.71.
In related news, SVP Kathryn M. Collins sold 2,931 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $30.35, for a total value of $88,955.85. Following the transaction, the senior vice president now directly owns 17,372 shares in the company, valued at approximately $527,240.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William C. Cobb sold 387,740 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $31.19, for a total transaction of $12,093,610.60. Following the completion of the transaction, the insider now owns 658,463 shares in the company, valued at $20,537,460.97. The disclosure for this sale can be found here. Insiders sold a total of 1,473,471 shares of company stock worth $45,309,203 over the last quarter. 0.63% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HRB. Sumitomo Mitsui Asset Management Company LTD grew its position in H&R Block by 14.2% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,295 shares of the company’s stock worth $448,000 after purchasing an additional 2,406 shares during the last quarter. Canada Pension Plan Investment Board grew its position in H&R Block by 168.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 93,574 shares of the company’s stock worth $2,176,000 after purchasing an additional 58,747 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in H&R Block by 1.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,010 shares of the company’s stock worth $814,000 after purchasing an additional 410 shares during the last quarter. State Treasurer State of Michigan grew its position in H&R Block by 0.3% in the 1st quarter. State Treasurer State of Michigan now owns 67,998 shares of the company’s stock worth $1,581,000 after purchasing an additional 200 shares during the last quarter. Finally, LSV Asset Management grew its position in H&R Block by 159.4% in the 1st quarter. LSV Asset Management now owns 102,200 shares of the company’s stock worth $2,376,000 after purchasing an additional 62,800 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.
Shares of H&R Block (NYSE HRB) opened at 26.08 on Monday. The company’s 50-day moving average is $29.50 and its 200-day moving average is $26.69. The stock has a market capitalization of $5.42 billion, a PE ratio of 13.76 and a beta of 0.56. H&R Block has a 12 month low of $19.85 and a 12 month high of $31.80.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Wednesday, September 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 3.68%. H&R Block’s payout ratio is presently 49.48%.
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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