H&R Block Inc. (HRB) Stock Rating Lowered by Morgan Stanley
H&R Block Inc. (NYSE:HRB) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday. They currently have a $25.00 target price on the stock, down from their prior target price of $26.00. Morgan Stanley’s target price would indicate a potential upside of 8.55% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded H&R Block from a “hold” rating to a “sell” rating in a research note on Thursday, September 1st. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of H&R Block in a report on Thursday, September 1st. BTIG Research restated a “neutral” rating on shares of H&R Block in a report on Wednesday, August 31st. Piper Jaffray Cos. restated an “overweight” rating and set a $28.00 price target (down from $29.00) on shares of H&R Block in a report on Wednesday, August 31st. Finally, Macquarie assumed coverage on H&R Block in a report on Thursday, August 25th. They set an “outperform” rating and a $28.00 price target on the stock. Nine analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.99.
Shares of H&R Block (NYSE:HRB) opened at 23.03 on Wednesday. The firm has a market capitalization of $5.05 billion, a P/E ratio of 15.58 and a beta of 0.58. The firm’s 50-day moving average is $22.77 and its 200 day moving average is $22.63. H&R Block has a one year low of $19.18 and a one year high of $37.35.
H&R Block (NYSE:HRB) last issued its earnings results on Tuesday, August 30th. The company reported ($0.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.02. The business had revenue of $125 million for the quarter. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. The company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm posted ($0.35) earnings per share. Equities research analysts predict that H&R Block will post $1.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, December 1st. H&R Block’s payout ratio is 52.69%.
In other H&R Block news, SVP Gregory J. Macfarlane purchased 4,618 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were purchased at an average cost of $21.65 per share, for a total transaction of $99,979.70. Following the acquisition, the senior vice president now owns 121,707 shares of the company’s stock, valued at $2,634,956.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of HRB. BOKF NA boosted its position in H&R Block by 1.4% in the second quarter. BOKF NA now owns 11,133 shares of the company’s stock worth $256,000 after buying an additional 154 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in H&R Block by 4.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,531 shares of the company’s stock worth $128,000 after buying an additional 222 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in H&R Block by 2.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,617 shares of the company’s stock worth $405,000 after buying an additional 348 shares during the last quarter. Financial Counselors Inc. boosted its position in H&R Block by 0.3% in the second quarter. Financial Counselors Inc. now owns 148,996 shares of the company’s stock worth $3,427,000 after buying an additional 443 shares during the last quarter. Finally, Veritable L.P. boosted its position in H&R Block by 4.3% in the second quarter. Veritable L.P. now owns 12,325 shares of the company’s stock worth $283,000 after buying an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.
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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