H & R Block Stock Rating Upgraded by Zacks (HRB)

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H & R Block (NYSE:HRB) was upgraded by Zacks from an “underperform” rating to an “outperform” rating in a report issued on Tuesday. The firm currently has a $39.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 19.74% from the stock’s previous close.

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 0.92% on Tuesday, hitting $32.27. 693,380 shares of the company’s stock traded hands. H & R Block has a 52 week low of $25.98 and a 52 week high of $33.65. The stock’s 50-day moving average is $32.00 and its 200-day moving average is $30.11. The company has a market cap of $8.850 billion and a P/E ratio of 18.94.

H & R Block (NYSE:HRB) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $1.67 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $2.54 earnings per share. H & R Block’s revenue was up 16.5% compared to the same quarter last year. On average, analysts predict that H & R Block will post $1.98 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on HRB. 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 investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus 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.

To view Zacks’ full report, visit Zacks’ official website.

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