H & R Block (NYSE:HRB)‘s stock had its “sell” rating reaffirmed by analysts at BTIG Research in a research note issued on Sunday, March 11th. They currently have a $21.00 target price on the stock. BTIG Research’s target price suggests a potential downside of 14.53% from the stock’s current price.
The analysts wrote, “Reiterating Sell While Raising PT to $21 (from $19) H&R Block (HRB) yesterday after the market close posted a narrower- than-expected 3Q18 loss per share in a mostly off-season quarter. Investors’ focus with regard to any of the company’s 3Q reports is almost always on its volume performance through the first half of the tax season. HRB also outperformed in that regard, beating the IRS’s reported e-filing statistics through February 23 in both the assisted and do-it-yourself (DIY) categories. Management also reiterated the FY18 guidance they had provided in December.””
A number of other brokerages also recently commented on HRB. Zacks Investment Research downgraded shares of H & R Block from a “hold” rating to a “sell” rating in a report on Friday, December 8th. ValuEngine raised shares of H & R Block from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Oppenheimer reaffirmed a “hold” rating on shares of H & R Block in a report on Thursday, December 7th. Northcoast Research raised shares of H & R Block from a “neutral” rating to a “buy” rating and lowered their price target for the company from $25.02 to $24.69 in a report on Monday, March 5th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $30.00 price target on shares of H & R Block in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $27.71.
Shares of NYSE:HRB traded down $0.84 during midday trading on Friday, hitting $24.57. The company had a trading volume of 4,152,973 shares, compared to its average volume of 3,535,170. H & R Block has a 12-month low of $22.82 and a 12-month high of $31.80. The company has a debt-to-equity ratio of -3.27, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a market capitalization of $5,312.44, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.84 and a beta of 0.29.
H & R Block (NYSE:HRB) last issued its quarterly earnings results on Tuesday, March 6th. The company reported ($1.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.13. H & R Block had a negative return on equity of 77.32% and a net margin of 8.19%. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $459.14 million. During the same quarter in the prior year, the business posted ($0.49) EPS. H & R Block’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities research analysts expect that H & R Block will post 2.76 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in HRB. Nationwide Fund Advisors lifted its stake in H & R Block by 35.7% in the third quarter. Nationwide Fund Advisors now owns 302,295 shares of the company’s stock worth $8,005,000 after purchasing an additional 79,452 shares during the last quarter. First Trust Advisors LP increased its position in shares of H & R Block by 3.1% during the third quarter. First Trust Advisors LP now owns 273,146 shares of the company’s stock worth $7,233,000 after acquiring an additional 8,208 shares during the period. Aperio Group LLC increased its position in shares of H & R Block by 15.3% during the third quarter. Aperio Group LLC now owns 86,003 shares of the company’s stock worth $2,277,000 after acquiring an additional 11,393 shares during the period. Pictet Asset Management Ltd. increased its position in shares of H & R Block by 5.3% during the third quarter. Pictet Asset Management Ltd. now owns 125,649 shares of the company’s stock worth $3,327,000 after acquiring an additional 6,300 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of H & R Block during the third quarter worth approximately $515,000. 95.27% of the stock is owned by institutional investors and hedge funds.
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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