H&R Block’s (HRB) Market Perform Rating Reaffirmed at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. restated their market perform rating on shares of H&R Block, Inc. (NYSE:HRB) in a research report released on Thursday morning. Oppenheimer Holdings also issued estimates for H&R Block’s Q2 2018 earnings at ($0.75) EPS and Q4 2018 earnings at $3.84 EPS.
A number of other brokerages have also recently issued reports on HRB. BTIG Research restated a sell rating and set a $19.00 target price on shares of H&R Block in a report on Tuesday. Morgan Stanley raised their target price on H&R Block from $24.00 to $27.00 and gave the stock an equal weight rating in a report on Wednesday, June 14th. Credit Suisse Group restated a neutral rating and set a $29.00 target price (up previously from $27.00) on shares of H&R Block in a report on Wednesday, June 14th. Zacks Investment Research cut H&R Block from a buy rating to a hold rating in a report on Monday, May 29th. Finally, BidaskClub cut H&R Block from a buy rating to a hold rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $27.71.
H&R Block (HRB) traded up 0.19% during mid-day trading on Thursday, reaching $26.79. The company’s stock had a trading volume of 1,425,483 shares. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 14.13 and a beta of 0.54. H&R Block has a 12 month low of $19.85 and a 12 month high of $31.80. The stock’s 50 day moving average is $30.14 and its 200 day moving average is $26.50.
H&R Block (NYSE:HRB) last issued its earnings results on Tuesday, August 29th. The company reported ($0.62) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.62). H&R Block had a negative return on equity of 101.42% and a net margin of 13.19%. The firm had revenue of $138 million for the quarter, compared to analysts’ expectations of $129.33 million. During the same quarter last year, the business earned ($0.56) earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that H&R Block will post $1.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Tuesday, September 12th. H&R Block’s dividend payout ratio is currently 49.48%.
In other news, insider William C. Cobb sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $30.40, for a total transaction of $22,800,000.00. Following the sale, the insider now owns 1,301,458 shares of the company’s stock, valued at $39,564,323.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kathryn M. Collins sold 2,931 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $30.35, for a total value of $88,955.85. Following the sale, the senior vice president now directly owns 17,372 shares in the company, valued at approximately $527,240.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,473,471 shares of company stock worth $45,309,203. 0.63% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Korea Investment CORP raised its stake in shares of H&R Block by 30.2% in the first quarter. Korea Investment CORP now owns 138,000 shares of the company’s stock worth $3,209,000 after buying an additional 32,000 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of H&R Block by 168.7% in the first quarter. Canada Pension Plan Investment Board now owns 93,574 shares of the company’s stock worth $2,176,000 after buying an additional 58,747 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of H&R Block by 76.0% in the first quarter. Janus Capital Management LLC now owns 496,134 shares of the company’s stock worth $11,535,000 after buying an additional 214,206 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of H&R Block during the first quarter worth about $208,000. Finally, LMR Partners LLP purchased a new stake in shares of H&R Block during the first quarter worth about $474,000. 90.28% of the stock is currently 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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