H&R Block (NYSE:HRB) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of H&R Block (NYSE:HRB - Free Report) from a hold rating to a buy rating in a research note released on Wednesday.

Separately, Barrington Research reissued an "outperform" rating and set a $70.00 price target on shares of H&R Block in a report on Wednesday.

H&R Block Stock Performance

HRB stock traded down $0.99 during midday trading on Wednesday, reaching $53.21. 1,290,103 shares of the company were exchanged, compared to its average volume of 1,171,457. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.82 and a beta of 0.69. The business has a 50-day moving average price of $54.74 and a two-hundred day moving average price of $58.71. H&R Block has a one year low of $44.81 and a one year high of $68.45. The company has a debt-to-equity ratio of 16.46, a current ratio of 0.73 and a quick ratio of 0.77.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($1.73) EPS for the quarter, missing analysts' consensus estimates of ($1.59) by ($0.14). H&R Block had a net margin of 14.71% and a negative return on equity of 179.15%. Equities research analysts forecast that H&R Block will post 5.27 EPS for the current year.

H&R Block Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Tuesday, March 4th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Tuesday, March 4th. H&R Block's dividend payout ratio is currently 41.32%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of H&R Block by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,219,462 shares of the company's stock valued at $275,796,000 after buying an additional 282,633 shares during the period. Pacer Advisors Inc. lifted its position in shares of H&R Block by 21.1% during the 4th quarter. Pacer Advisors Inc. now owns 2,735,189 shares of the company's stock valued at $144,527,000 after acquiring an additional 476,892 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of H&R Block by 2.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,684,738 shares of the company's stock worth $89,022,000 after purchasing an additional 47,920 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of H&R Block by 11.5% in the fourth quarter. NewEdge Wealth LLC now owns 1,095,712 shares of the company's stock worth $57,897,000 after purchasing an additional 113,216 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in H&R Block by 13.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 884,714 shares of the company's stock valued at $46,748,000 after purchasing an additional 107,450 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

About H&R Block

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.