H & R Block (NYSE:HRB) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of H & R Block (NYSE:HRB) from a sell rating to a hold rating in a report issued on Thursday, ValuEngine reports.

A number of other research firms have also recently issued reports on HRB. Barrington Research cut their price target on H & R Block from $32.00 to $30.00 and set an outperform rating for the company in a report on Friday, August 30th. Northcoast Research cut H & R Block from a buy rating to a neutral rating in a report on Tuesday, July 9th. TheStreet cut H & R Block from a b rating to a c+ rating in a report on Wednesday, August 28th. Finally, Morgan Stanley cut their price target on H & R Block from $29.00 to $28.00 and set an equal weight rating for the company in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. H & R Block presently has an average rating of Hold and an average target price of $27.00.

Shares of H & R Block stock traded down $0.02 during trading on Thursday, reaching $23.61. The company’s stock had a trading volume of 1,935,414 shares, compared to its average volume of 3,010,600. The stock has a 50-day moving average price of $24.27 and a two-hundred day moving average price of $26.41. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 6.14. H & R Block has a one year low of $22.96 and a one year high of $29.62. The stock has a market capitalization of $4.74 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.24.

H & R Block (NYSE:HRB) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.03. H & R Block had a return on equity of 305.29% and a net margin of 13.71%. The business had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $151.35 million. During the same period in the previous year, the business posted ($0.72) earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that H & R Block will post 1.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.04 annualized dividend and a yield of 4.40%. H & R Block’s dividend payout ratio is currently 48.37%.

Large investors have recently made changes to their positions in the business. Meadow Creek Investment Management LLC raised its holdings in H & R Block by 90.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 34,100 shares of the company’s stock worth $999,000 after purchasing an additional 16,192 shares during the last quarter. Northern Trust Corp increased its stake in shares of H & R Block by 4.8% in the 1st quarter. Northern Trust Corp now owns 4,245,946 shares of the company’s stock valued at $101,648,000 after acquiring an additional 193,383 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of H & R Block by 66.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,000,152 shares of the company’s stock valued at $58,605,000 after acquiring an additional 795,172 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of H & R Block by 92.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 5,596,753 shares of the company’s stock valued at $133,986,000 after acquiring an additional 2,687,319 shares during the last quarter. Finally, Westpac Banking Corp increased its stake in shares of H & R Block by 23.3% in the 2nd quarter. Westpac Banking Corp now owns 27,513 shares of the company’s stock valued at $806,000 after acquiring an additional 5,200 shares during the last quarter.

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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