Trading Report: Today, H&R Block Inc. (HRB) Lowered by BTIG Research to Sell

Today, H&R Block Inc. (HRB) Lowered by BTIG Research to Sell

BTIG Research cut shares of H&R Block Inc. (NYSE:HRB) from a neutral rating to a sell rating in a research note published on Monday. BTIG Research currently has $18.00 price objective on the stock.

Several other research firms have also recently weighed in on HRB. Macquarie assumed coverage on shares of H&R Block in a research report on Thursday, August 25th. They issued an outperform rating and a $28.00 price objective for the company. Piper Jaffray Cos. reaffirmed an overweight rating and set a $28.00 target price (down previously from $29.00) on shares of H&R Block in a report on Wednesday, August 31st. BMO Capital Markets lifted their target price on shares of H&R Block from $23.00 to $24.00 and gave the stock a market perform rating in a report on Wednesday, August 31st. Morgan Stanley lowered shares of H&R Block from an overweight rating to an equal weight rating and lowered their target price for the stock from $26.00 to $25.00 in a report on Wednesday, November 16th. Finally, Zacks Investment Research lowered shares of H&R Block from a hold rating to a sell rating in a report on Friday, November 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $27.77.

Shares of H&R Block (NYSE:HRB) opened at 21.82 on Monday. H&R Block has a one year low of $19.18 and a one year high of $37.35. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 14.76 and a beta of 0.58. The company’s 50 day moving average price is $22.85 and its 200 day moving average price is $22.84.

H&R Block (NYSE:HRB) last posted its quarterly earnings data on Tuesday, August 30th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by $0.02. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. The company earned $125 million during the quarter. During the same period in the previous year, the business earned ($0.35) EPS. H&R Block’s revenue was down 9.4% compared to the same quarter last year. On average, analysts expect that H&R Block will post $1.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 5th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Thursday, December 1st. H&R Block’s payout ratio is presently 52.69%.

In related news, SVP Gregory J. Macfarlane bought 4,618 shares of H&R Block stock in a transaction that occurred on Thursday, September 1st. The stock was purchased at an average cost of $21.65 per share, with a total value of $99,979.70. Following the purchase, the senior vice president now owns 121,707 shares in the company, valued at $2,634,956.55. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. raised its position in shares of H&R Block by 27.1% in the second quarter. Tocqueville Asset Management L.P. now owns 460,642 shares of the company’s stock worth $10,595,000 after buying an additional 98,355 shares during the last quarter. Prudential Financial Inc. raised its position in shares of H&R Block by 9.7% in the second quarter. Prudential Financial Inc. now owns 314,717 shares of the company’s stock worth $7,239,000 after buying an additional 27,784 shares during the last quarter. Midas Management Corp bought a new position in shares of H&R Block during the second quarter worth $1,010,000. Eqis Capital Management Inc. raised its position in shares of H&R Block by 12.6% in the second quarter. Eqis Capital Management Inc. now owns 13,012 shares of the company’s stock worth $299,000 after buying an additional 1,453 shares during the last quarter. Finally, Guinness Asset Management Ltd raised its position in shares of H&R Block by 66.4% in the second quarter. Guinness Asset Management Ltd now owns 324,038 shares of the company’s stock worth $7,453,000 after buying an additional 129,360 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

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