BTIG Research Downgrades H&R Block Inc. (HRB) to Sell
H&R Block Inc. (NYSE:HRB) was downgraded by BTIG Research from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday. They currently have a $18.00 target price on the stock. BTIG Research’s price target points to a potential downside of 24.94% from the company’s current price.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of H&R Block from a “hold” rating to a “sell” rating in a research report on Thursday, September 1st. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of H&R Block in a research report on Thursday, September 1st. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $28.00 target price (down from $29.00) on shares of H&R Block in a research report on Wednesday, August 31st. Morgan Stanley reaffirmed a “buy” rating and issued a $26.00 target price on shares of H&R Block in a research report on Wednesday, August 31st. Finally, Macquarie started coverage on shares of H&R Block in a research report on Thursday, August 25th. They issued an “outperform” rating and a $28.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.77.
Shares of H&R Block (NYSE:HRB) opened at 23.98 on Monday. The stock has a market cap of $5.25 billion, a P/E ratio of 16.22 and a beta of 0.58. The company’s 50-day moving average is $22.87 and its 200-day moving average is $22.78. H&R Block has a 12-month low of $19.18 and a 12-month high of $37.35.
H&R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by $0.02. The company had revenue of $125 million for the quarter. H&R Block had a net margin of 11.58% and a negative return on equity of 202.63%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. On average, equities research analysts anticipate that H&R Block will post $1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.67%. The ex-dividend date is Thursday, December 1st. H&R Block’s dividend payout ratio is currently 52.69%.
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In related news, SVP Gregory J. Macfarlane bought 4,618 shares of the stock in a transaction on Thursday, September 1st. The shares were acquired at an average price of $21.65 per share, for a total transaction of $99,979.70. Following the purchase, 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 this link. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of HRB. FMR LLC boosted its position in H&R Block by 34.0% in the second quarter. FMR LLC now owns 17,027,724 shares of the company’s stock valued at $391,638,000 after buying an additional 4,315,751 shares in the last quarter. Tobam boosted its position in H&R Block by 484.5% in the second quarter. Tobam now owns 1,900,661 shares of the company’s stock valued at $43,715,000 after buying an additional 1,575,506 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in H&R Block by 245.8% in the third quarter. Tocqueville Asset Management L.P. now owns 1,593,088 shares of the company’s stock valued at $36,880,000 after buying an additional 1,132,446 shares in the last quarter. Highbridge Capital Management LLC bought a new position in H&R Block during the second quarter valued at about $25,712,000. Finally, BlackRock Advisors LLC boosted its position in H&R Block by 27.6% in the third quarter. BlackRock Advisors LLC now owns 4,533,492 shares of the company’s stock valued at $104,950,000 after buying an additional 981,845 shares in the last quarter. Institutional investors and hedge funds own 91.35% 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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