H&R Block (NYSE:HRB) Shares Gap Down After Earnings Miss

H&R Block, Inc. (NYSE:HRB)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $54.43, but opened at $51.63. H&R Block shares last traded at $53.94, with a volume of 60,738 shares.

The company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.59) by ($0.14). H&R Block had a negative return on equity of 212.45% and a net margin of 16.19%.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and set a $70.00 price target on shares of H&R Block in a report on Wednesday.

Hedge Funds Weigh In On H&R Block

Institutional investors have recently modified their holdings of the company. Eastern Bank acquired a new position in shares of H&R Block during the third quarter worth approximately $25,000. Bogart Wealth LLC raised its position in shares of H&R Block by 606.1% during the third quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Endeavor Private Wealth Inc. acquired a new position in shares of H&R Block during the fourth quarter worth approximately $27,000. Spire Wealth Management acquired a new position in shares of H&R Block during the fourth quarter worth approximately $28,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of H&R Block during the third quarter worth approximately $34,000. 90.14% of the stock is owned by institutional investors and hedge funds.

H&R Block Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 16.46. The business has a 50-day moving average price of $55.06 and a two-hundred day moving average price of $58.77. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.84 and a beta of 0.69.

H&R Block Company Profile

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.