H & R Block (HRB) Given New $27.00 Price Target at Morgan Stanley

H & R Block (NYSE:HRB) had its target price raised by Morgan Stanley from $26.00 to $27.00 in a report published on Friday morning, MarketBeat.com reports. Morgan Stanley currently has a hold rating on the stock.

Several other equities research analysts also recently weighed in on the company. ValuEngine raised H & R Block from a strong sell rating to a sell rating in a report on Thursday, August 30th. Zacks Investment Research downgraded H & R Block from a buy rating to a hold rating in a report on Friday, August 31st. Finally, Barrington Research reissued a buy rating and issued a $27.00 target price on shares of H & R Block in a report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. H & R Block presently has a consensus rating of Hold and an average price target of $25.81.

Shares of NYSE HRB traded down $0.66 during mid-day trading on Friday, hitting $27.04. 4,595,821 shares of the company were exchanged, compared to its average volume of 2,606,558. The company has a debt-to-equity ratio of 7.79, a current ratio of 2.27 and a quick ratio of 2.27. H & R Block has a 1-year low of $22.45 and a 1-year high of $29.81. The company has a market cap of $5.69 billion, a PE ratio of 9.07, a P/E/G ratio of 1.45 and a beta of 0.09.

H & R Block (NYSE:HRB) last issued its quarterly earnings results on Thursday, December 6th. The company reported ($0.83) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.93) by $0.10. H & R Block had a negative return on equity of 1,557.56% and a net margin of 17.90%. The firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $139.80 million. During the same period last year, the company earned ($0.71) earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts anticipate that H & R Block will post 1.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Friday, November 30th. H & R Block’s dividend payout ratio (DPR) is currently 33.56%.

Institutional investors have recently added to or reduced their stakes in the business. Korea Investment CORP lifted its holdings in H & R Block by 30.3% in the third quarter. Korea Investment CORP now owns 457,300 shares of the company’s stock valued at $11,775,000 after acquiring an additional 106,400 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of H & R Block by 13.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 95,997 shares of the company’s stock worth $2,472,000 after buying an additional 11,738 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of H & R Block by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,183,315 shares of the company’s stock worth $26,956,000 after buying an additional 10,824 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of H & R Block during the 2nd quarter worth $5,308,000. Finally, Signature Wealth Management Group acquired a new position in shares of H & R Block during the 3rd quarter worth $3,124,000. 94.64% of the stock is owned by institutional investors.

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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