H & R Block (NYSE:HRB)‘s stock had its “sell” rating reissued by analysts at BTIG Research in a report released on Sunday. They currently have a $21.00 price target on the stock. BTIG Research’s price objective would indicate a potential downside of 24.41% from the company’s previous close.
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 research firms also recently weighed in on HRB. ValuEngine downgraded shares of H & R Block from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley reissued an “equal weight” rating and set a $28.00 target price (up previously from $27.00) on shares of H & R Block in a research report on Wednesday, March 7th. Northcoast Research raised shares of H & R Block from a “neutral” rating to a “buy” rating and decreased their target price for the company from $25.02 to $24.69 in a research report on Monday, March 5th. BMO Capital Markets increased their target price on shares of H & R Block from $2.75 to $31.00 and gave the company a “market perform” rating in a research report on Tuesday, January 23rd. Finally, Oppenheimer reissued a “hold” rating on shares of H & R Block in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.67.
H & R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, March 6th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.13. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $459.14 million. H & R Block had a net margin of 8.19% and a negative return on equity of 77.32%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.49) EPS. equities analysts expect that H & R Block will post 2.76 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in HRB. Nationwide Fund Advisors grew its position in shares of H & R Block by 35.7% during the 3rd quarter. Nationwide Fund Advisors now owns 302,295 shares of the company’s stock worth $8,005,000 after buying an additional 79,452 shares during the period. First Trust Advisors LP grew its position in shares of H & R Block by 3.1% during the 3rd quarter. First Trust Advisors LP now owns 273,146 shares of the company’s stock worth $7,233,000 after buying an additional 8,208 shares during the period. Aperio Group LLC grew its position in shares of H & R Block by 15.3% during the 3rd quarter. Aperio Group LLC now owns 86,003 shares of the company’s stock worth $2,277,000 after buying an additional 11,393 shares during the period. Pictet Asset Management Ltd. grew its position in shares of H & R Block by 5.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 125,649 shares of the company’s stock worth $3,327,000 after buying an additional 6,300 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of H & R Block during the 3rd quarter worth approximately $515,000. 95.27% of the stock is owned by institutional investors.
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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