Barrington Research Reaffirms Outperform Rating for H & R Block (NYSE:HRB)

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Barrington Research restated their outperform rating on shares of H & R Block (NYSE:HRB) in a research report report published on Wednesday morning, Zacks.com reports. Barrington Research also issued estimates for H & R Block’s Q1 2020 earnings at ($0.76) EPS, Q4 2020 earnings at $4.28 EPS and FY2020 earnings at $1.96 EPS.

HRB has been the subject of several other research reports. Zacks Investment Research downgraded shares of H & R Block from a hold rating to a sell rating in a research report on Tuesday, May 21st. ValuEngine raised shares of H & R Block from a sell rating to a hold rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.60.

HRB opened at $28.69 on Wednesday. The stock has a market capitalization of $5.84 billion, a PE ratio of 13.34, a P/E/G ratio of 1.43 and a beta of 0.18. H & R Block has a 1-year low of $22.45 and a 1-year high of $29.29. The company has a quick ratio of 2.10, a current ratio of 2.16 and a debt-to-equity ratio of 2.76.

H & R Block (NYSE:HRB) last released its earnings results on Tuesday, June 11th. The company reported $4.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.21. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.32 billion. H & R Block had a net margin of 13.65% and a return on equity of 364.51%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.42 EPS. On average, equities analysts expect that H & R Block will post 1.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 21st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Thursday, June 20th. This is an increase from H & R Block’s previous quarterly dividend of $0.25. H & R Block’s dividend payout ratio is currently 46.51%.

Several large investors have recently made changes to their positions in HRB. Amundi Pioneer Asset Management Inc. grew its position in shares of H & R Block by 92.4% during 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 buying an additional 2,687,319 shares during the last quarter. Norges Bank bought a new stake in shares of H & R Block during the 4th quarter valued at about $61,212,000. First Eagle Investment Management LLC grew its position in shares of H & R Block by 21.5% during the 1st quarter. First Eagle Investment Management LLC now owns 7,705,778 shares of the company’s stock valued at $184,476,000 after buying an additional 1,363,866 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of H & R Block by 19.2% during the 4th quarter. Bank of New York Mellon Corp now owns 8,417,662 shares of the company’s stock valued at $213,556,000 after buying an additional 1,355,760 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of H & R Block during the 4th quarter valued at about $32,597,000. 98.10% of the stock is owned by institutional investors and hedge funds.

About H & R Block

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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