H & R Block Rating Increased to Outperform at Zacks (HRB)

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Zacks upgraded shares of H & R Block (NYSE:HRB) from an underperform rating to an outperform rating in a report released on Tuesday. Zacks currently has $39.00 price objective on the stock.

Zacks’ analyst wrote, “We upgraded H&R Block to Outperform from Underperform due to its solid results in fourth-quarter fiscal 2014. The bottom line outperformed the Zacks Consensus Estimate and was higher than the year-ago quarter earnings due to improved revenues. The top line increased owing to improved return mix and changes in the company’s pricing strategy as well as improvement in the digital tax software product. The company s decision to vend H&R Block Bank will free up additional capital, which can be deployed in strategic opportunities. Moreover, the implementation of Affordable Care Act will open up revenue generating avenues for H&R Block. H&R Block’s association with Go Health helps it to foray into the health insurance brokerage business. The company also remains focused in enhancing its shareholders value that in-turn retain investor confidence in the stock.”

H & R Block (NYSE:HRB) traded down 0.49% on Tuesday, hitting $32.561. 1,004,862 shares of the company’s stock traded hands. H & R Block has a 1-year low of $25.98 and a 1-year high of $33.65. The stock’s 50-day moving average is $31.99 and its 200-day moving average is $30.09. The company has a market cap of $8.930 billion and a P/E ratio of 19.02.

H & R Block (NYSE:HRB) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $1.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $3.23 by $1.56. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Analysts expect that H & R Block will post $1.98 EPS for the current fiscal year.

HRB has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of H & R Block to a buy rating in a research note on Friday, July 11th. Separately, analysts at Morgan Stanley reiterated an overweight rating on shares of H & R Block in a research note on Tuesday, July 1st. They now have a $38.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an overweight rating on shares of H & R Block in a research note on Monday, June 16th. They now have a $38.00 price target on the stock, up previously from $35.00. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. H & R Block currently has an average rating of Buy and a consensus target price of $35.02.

H&R Block, Inc (NYSE:HRB) through its subsidiaries provides tax preparation and banking services.

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