H&R Block (HRB) Gets a Buy Rating from Barrington

Barrington analyst Alexander Paris maintained a Buy rating on H&R Block (HRB) today and set a price target of $30. The company’s shares closed yesterday at $24.32.

Paris wrote:

“We would note that the tax season got off to a slow start in 2019, with the IRS reporting a 10.9% year‐over‐year decline in total returns received (tax professional e‐files down 19.3% and self‐prepared e‐files down 9.2%) through February 1, 2019. While it has picked up in February – total returns received down 4.8% YOY cumulatively, tax professional e‐files down 8.5% YOY cumulatively and self‐prepared e‐ files up 0.1% YOY cumulatively – H&R Block’s quarter ended on January 31. At least three analysts have reduced their Q3/19 adjusted net loss per share estimates from an average of $0.51 at the end of January to an average of $0.56 now.”

According to TipRanks.com, Paris is a 5-star analyst with an average return of 11.8% and a 56.9% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, Strategic Education Inc, and Franklin Covey Company.

The word on The Street in general, suggests a Hold analyst consensus rating for H&R Block with a $26.33 average price target.

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H&R Block’s market cap is currently $5B and has a P/E ratio of 9.19. The company has a Price to Book ratio of -159.57.

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H&R Block, Inc. engages in the provision of tax preparation and other services. It offers assisted and do-it-yourself tax return preparation solutions through multiple channels and distribute the H&R block-branded financial products and services, including those of its financial partners, to the general public primarily in the United States, Canada, and Australia. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955 and is headquartered in Kansas City, MO.