H & R Block (HRB) Sets New 12-Month High and Low on Earnings Beat

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H & R Block Inc (NYSE:HRB)’s share price reached a new 52-week high and low during trading on Wednesday following a stronger than expected earnings report. The company traded as low as $23.33 and last traded at $24.48, with a volume of 948358 shares traded. The stock had previously closed at $24.30.

The company reported $5.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.27 by $0.16. H & R Block had a negative return on equity of 77.32% and a net margin of 8.19%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm earned $3.76 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. This is an increase from H & R Block’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, June 21st. H & R Block’s dividend payout ratio is 48.98%.

A number of brokerages have recently issued reports on HRB. BTIG Research reissued a “sell” rating and set a $21.00 target price on shares of H & R Block in a research note on Sunday, March 11th. Barrington Research cut their target price on H & R Block from $32.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday. ValuEngine raised H & R Block from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. TheStreet raised H & R Block from a “c+” rating to a “b” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded H & R Block from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $26.21.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRB. Bank of New York Mellon Corp increased its position in H & R Block by 3.1% during the fourth quarter. Bank of New York Mellon Corp now owns 6,553,820 shares of the company’s stock worth $171,840,000 after buying an additional 199,162 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of H & R Block by 58.9% during the fourth quarter. Schroder Investment Management Group now owns 4,594,678 shares of the company’s stock worth $120,472,000 after purchasing an additional 1,703,381 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of H & R Block during the fourth quarter worth $106,233,000. Allianz Asset Management GmbH boosted its holdings in shares of H & R Block by 3,360.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,010,858 shares of the company’s stock worth $26,505,000 after purchasing an additional 981,649 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in H & R Block by 21.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 787,212 shares of the company’s stock valued at $20,641,000 after acquiring an additional 139,498 shares during the last quarter. 97.46% of the stock is owned by hedge funds and other institutional investors.

The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.27. The company has a debt-to-equity ratio of -3.27, a current ratio of 1.93 and a quick ratio of 1.93.

H & R Block Company Profile

H&R Block, Inc, through its subsidiaries, 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, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees.

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