Northcoast Research Analysts Increase Earnings Estimates for H&R Block, Inc. (HRB)
H&R Block, Inc. (NYSE:HRB) – Investment analysts at Northcoast Research boosted their Q2 2018 earnings per share estimates for H&R Block in a research note issued on Wednesday. Northcoast Research analyst K. Mehta now anticipates that the company will earn ($0.72) per share for the quarter, up from their previous estimate of ($0.73). Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for H&R Block’s Q3 2018 earnings at ($0.49) EPS.
H&R Block (NYSE:HRB) last issued its earnings results on Tuesday, August 29th. The company reported ($0.62) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.62). The firm had revenue of $138 million for the quarter, compared to analyst estimates of $129.33 million. H&R Block had a negative return on equity of 101.42% and a net margin of 13.19%. H&R Block’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.56) earnings per share.
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Several other research analysts have also commented on HRB. BidaskClub raised H&R Block from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. BMO Capital Markets reaffirmed a “market perform” rating and set a $31.00 price target on shares of H&R Block in a research report on Thursday. Zacks Investment Research lowered H&R Block from a “hold” rating to a “sell” rating in a research report on Thursday. Credit Suisse Group reaffirmed a “neutral” rating and set a $30.00 price target (up previously from $29.00) on shares of H&R Block in a research report on Wednesday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of H&R Block in a research report on Thursday. Two investment 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. H&R Block currently has an average rating of “Hold” and an average price target of $27.71.
Shares of H&R Block (NYSE:HRB) opened at 26.6125 on Friday. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 14.0361 and a beta of 0.54. The company has a 50-day moving average price of $30.14 and a 200-day moving average price of $26.50. H&R Block has a 12 month low of $19.85 and a 12 month high of $31.80.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRB. Pinebridge Investments L.P. bought a new position in H&R Block during the second quarter worth about $114,000. Victory Capital Management Inc. increased its stake in 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. increased its stake in 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 increased its stake in 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 H&R Block during the first quarter worth $122,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider William C. Cobb sold 750,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $30.40, for a total value of $22,800,000.00. Following the transaction, the insider now owns 1,301,458 shares of the company’s stock, valued at $39,564,323.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William C. Cobb sold 387,740 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $31.19, for a total value of $12,093,610.60. Following the completion of the transaction, the insider now directly owns 658,463 shares in the company, valued at approximately $20,537,460.97. The disclosure for this sale can be found here. In the last three months, insiders sold 1,473,471 shares of company stock worth $45,309,203. Corporate insiders own 0.63% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 13th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, September 12th. H&R Block’s payout ratio is currently 49.48%.
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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