H&R Block (NYSE:HRB) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

H&R Block (NYSE:HRB) announced its earnings results on Thursday. The company reported $4.94 EPS for the quarter, beating the consensus estimate of $4.66 by $0.28, Briefing.com reports. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. H&R Block had a negative return on equity of 227.22% and a net margin of 16.98%. H&R Block’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.20 earnings per share. H&R Block updated its FY24 guidance to $4.10-$4.30 EPS.

H&R Block Price Performance

Shares of NYSE HRB traded up $0.68 during midday trading on Thursday, hitting $49.21. The stock had a trading volume of 1,131,168 shares, compared to its average volume of 1,059,056. The company’s 50-day simple moving average is $47.68 and its 200 day simple moving average is $46.68. The firm has a market cap of $6.87 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.89 and a beta of 0.69. H&R Block has a fifty-two week low of $28.83 and a fifty-two week high of $52.90.

H&R Block Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 5th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.28 annualized dividend and a dividend yield of 2.60%. H&R Block’s dividend payout ratio (DPR) is currently 35.26%.

Wall Street Analyst Weigh In

HRB has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on H&R Block from $34.00 to $38.00 and gave the stock a “sell” rating in a research note on Wednesday, February 7th. StockNews.com upgraded H&R Block from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Barrington Research restated an “outperform” rating and set a $55.00 target price on shares of H&R Block in a research report on Wednesday, May 1st.

Insider Activity

In related news, CEO Jeffrey J. Jones II sold 85,921 shares of H&R Block stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $49.21, for a total transaction of $4,228,172.41. Following the completion of the sale, the chief executive officer now directly owns 755,359 shares of the company’s stock, valued at $37,171,216.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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.