H&R Block’s (HRB) “Market Perform” Rating Reiterated at BMO Capital Markets
H&R Block, Inc. (NYSE:HRB)‘s stock had its “market perform” rating reissued by equities researchers at BMO Capital Markets in a report released on Thursday. They currently have a $31.00 target price on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 15.93% from the company’s current price.
HRB has been the topic of a number of other research reports. BTIG Research reiterated a “sell” rating and issued a $19.00 price target on shares of H&R Block in a research note on Tuesday. Morgan Stanley upped 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 research note on Wednesday, June 14th. Credit Suisse Group reiterated a “neutral” rating and issued a $29.00 price target (up previously from $27.00) on shares of H&R Block in a research note on Wednesday, June 14th. Zacks Investment Research lowered shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Finally, BidaskClub lowered shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.75.
H&R Block (HRB) traded down 0.26% during midday trading on Thursday, reaching $26.74. 6,106,333 shares of the company’s stock were exchanged. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 14.10 and a beta of 0.54. H&R Block has a 52 week low of $19.85 and a 52 week high of $31.80. The firm has a 50-day moving average price of $30.50 and a 200 day moving average price of $26.30.
H&R Block (NYSE:HRB) last released its quarterly earnings data on Tuesday, August 29th. The company reported ($0.62) earnings per share for the quarter, hitting the consensus estimate of ($0.62). The company had revenue of $138 million for the quarter, compared to analyst estimates of $129.33 million. H&R Block had a net margin of 13.47% and a negative return on equity of 104.14%. H&R Block’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.56) EPS. Analysts anticipate that H&R Block will post $1.97 EPS for the current year.
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In other H&R Block news, SVP Kathryn M. Collins sold 2,931 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $30.35, for a total value of $88,955.85. Following the completion of the sale, the senior vice president now owns 17,372 shares of the company’s stock, valued at approximately $527,240.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William C. Cobb sold 750,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 1,301,458 shares of the company’s stock, valued at approximately $39,564,323.20. The disclosure for this sale can be found here. Insiders sold a total of 1,473,471 shares of company stock valued at $45,309,203 in the last three months. Insiders own 0.63% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC increased its stake in H&R Block by 838.9% in the second quarter. Lord Abbett & CO. LLC now owns 1,459,100 shares of the company’s stock worth $45,101,000 after buying an additional 1,303,700 shares in the last quarter. Toronto Dominion Bank increased its stake in H&R Block by 25.3% in the second quarter. Toronto Dominion Bank now owns 70,179 shares of the company’s stock worth $2,169,000 after buying an additional 14,154 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in H&R Block during the second quarter worth about $1,299,000. Koch Industries Inc. acquired a new stake in H&R Block during the second quarter worth about $349,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in H&R Block during the second quarter worth about $2,706,000. 90.28% of the stock is 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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