H&R Block (NYSE:HRB) Reaches New 1-Year High Following Better-Than-Expected Earnings

H&R Block, Inc. (NYSE:HRB)’s share price hit a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $52.97 and last traded at $52.25, with a volume of 454409 shares traded. The stock had previously closed at $49.19.

The company reported $4.94 EPS for the quarter, beating the consensus estimate of $4.66 by $0.28. H&R Block had a negative return on equity of 227.22% and a net margin of 16.98%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the firm posted $4.20 earnings per share. H&R Block’s revenue was up 4.4% compared to the same quarter last year.

H&R Block Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 5th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.28 annualized dividend and a dividend yield of 2.40%. H&R Block’s dividend payout ratio (DPR) is presently 35.26%.

Analyst Ratings Changes

Several research firms recently commented on HRB. Barrington Research reaffirmed an “outperform” rating and set a $55.00 price objective on shares of H&R Block in a research report on Wednesday, May 1st. StockNews.com raised H&R Block from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, The Goldman Sachs Group increased their target price on H&R Block from $34.00 to $38.00 and gave the company a “sell” rating in a report on Wednesday, February 7th.

Insider Transactions at H&R Block

In other news, CEO Jeffrey J. Jones II sold 85,921 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $49.21, for a total value of $4,228,172.41. Following the transaction, the chief executive officer now owns 755,359 shares of the company’s stock, valued at $37,171,216.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of H&R Block

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in H&R Block during the 4th quarter valued at approximately $82,605,000. Fuller & Thaler Asset Management Inc. grew its holdings in H&R Block by 110.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,768,425 shares of the company’s stock valued at $119,208,000 after buying an additional 1,453,504 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of H&R Block by 415.0% in the 4th quarter. BNP Paribas Financial Markets now owns 782,288 shares of the company’s stock worth $37,839,000 after purchasing an additional 630,384 shares during the period. Prevatt Capital Ltd purchased a new position in shares of H&R Block in the 4th quarter worth approximately $17,413,000. Finally, Blue Whale Capital LLP boosted its holdings in shares of H&R Block by 636.4% in the 4th quarter. Blue Whale Capital LLP now owns 405,000 shares of the company’s stock worth $19,590,000 after purchasing an additional 350,000 shares during the period. Institutional investors own 90.14% of the company’s stock.

H&R Block Stock Performance

The stock has a market cap of $7.43 billion, a PE ratio of 14.43, a PEG ratio of 0.89 and a beta of 0.69. The stock has a fifty day moving average price of $47.69 and a 200 day moving average price of $46.69.

About H&R Block

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. It offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.