H&R Block, Inc. (HRB) Downgraded by BidaskClub to Hold
BidaskClub lowered shares of H&R Block, Inc. (NYSE:HRB) from a buy rating to a hold rating in a research report released on Wednesday.
A number of other research analysts also recently commented on HRB. BTIG Research reiterated a sell rating and set a $17.00 price objective on shares of H&R Block in a research note on Monday, May 1st. Zacks Investment Research downgraded shares of H&R Block from a buy rating to a hold rating in a research note on Tuesday, May 23rd. Morgan Stanley increased their price objective on shares of H&R Block from $24.00 to $27.00 and gave the company an equal weight rating in a research note on Wednesday, June 14th. Credit Suisse Group reiterated a neutral rating and set a $29.00 price objective (up from $27.00) on shares of H&R Block in a research note on Wednesday, June 14th. Finally, BMO Capital Markets increased their price objective on shares of H&R Block from $26.00 to $31.00 and gave the company a market perform rating in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $27.63.
H&R Block (NYSE HRB) opened at 29.71 on Wednesday. The company has a 50-day moving average of $30.50 and a 200-day moving average of $26.30. H&R Block has a 52 week low of $19.85 and a 52 week high of $31.80. The company has a market cap of $6.16 billion, a P/E ratio of 15.60 and a beta of 0.54.
H&R Block (NYSE:HRB) last announced its earnings results on Tuesday, June 13th. The company reported $3.76 earnings per share for the quarter, beating the consensus estimate of $3.53 by $0.23. H&R Block had a net margin of 13.47% and a negative return on equity of 104.14%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that H&R Block will post $1.99 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.23%. H&R Block’s dividend payout ratio (DPR) is 47.76%.
In other H&R Block news, insider William C. Cobb sold 750,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $30.40, for a total transaction 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 can be accessed through the SEC website. Also, Director Tom D. Seip sold 6,300 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $29.84, for a total transaction of $187,992.00. Following the sale, the director now directly owns 91,071 shares in the company, valued at $2,717,558.64. The disclosure for this sale can be found here. Insiders have sold 1,473,471 shares of company stock worth $45,309,203 over the last three months. 0.63% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. acquired a new stake in shares of H&R Block during the second quarter worth $114,000. Victory Capital Management Inc. boosted its stake in shares of H&R Block by 7.9% in the second quarter. Victory Capital Management Inc. now owns 4,064 shares of the company’s stock worth $126,000 after buying an additional 296 shares during the period. Northwestern Mutual Wealth Management Co. boosted 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 during the period. TrimTabs Asset Management LLC boosted 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 during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of H&R Block during the first quarter worth $122,000. 91.45% of the stock is currently owned by 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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