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HRB

H&R Block

$26.32

-0.385 (-1.44%)

09:19
04/24/19
04/24
09:19
04/24/19
09:19

H&R Block reports preliminary 2019 tax returns up 1.5% to 20.2M

H&R Block released its preliminary U.S. tax results, reflecting an increase in overall tax return volume for the second consecutive year. For FY19 through April 19, tax returns prepared by or through H&R Block increased 1.5% to 20.2M. Overall client growth was driven by total DIY growth of 6% and DIY online growth of 9.3%. DIY net average charge increased slightly due to favorable mix. Assisted returns decreased 1.7% for FY19, which was anticipated due to the elimination of the Free Federal 1040EZ promotion. The company also reported a decrease in net average charge due to targeted price decreases, which was in line with expectations. "We executed well against our plans for the tax season and I'm pleased that we will deliver the financial outlook we provided for fiscal 2019," said Tony Bowen, CFO. "Additionally, we now anticipate a fiscal 2019 effective tax rate of approximately 19 percent due to discrete benefits recorded in the fourth quarter."

HRB H&R Block
$26.32

-0.385 (-1.44%)

06/21/18
BTIG
06/21/18
NO CHANGE
Target $19
BTIG
Sell
Uncertainty around H&R Block to persist, says BTIG
BTIG analyst Mark Palmer kept his Sell rating and $19 price target on H&R Block (HRB), saying the uncertainty around the company's medium-term prospects is likely to persist, keeping the stock under pressure. Palmer points to the recent 18% decline in the stock price after the company's June 12th financial guidance indicating that the changes in the company's pricing structure were due to the less favorable simplified U.S. tax laws. The analyst also expects the U.S. Treasury's foray into tax simplification to accelerate the shift to online tax filing, marginalizing H&R Block to a fraction of the market share of Intuit's (INTU) TurboTax.
08/29/18
BRRR
08/29/18
NO CHANGE
Target $29
BRRR
Outperform
H&R Block target raised to $29 on Q1 beat at Barrington
Barrington analyst Alexander Paris raised his price target for H&R Block to $29 from $27 after the company's Q1 results topped expectations. The analyst, however, notes adds that given the seasonality of the tax industry, the first quarter is not indicative of full-year performance. He maintains an Outperform rating on H&R Block shares. Paris is looking past "to the transition year to a return to growth and margin expansion in FY/20 and beyond."
10/30/18
BTIG
10/30/18
NO CHANGE
Target $19
BTIG
Sell
BTIG says H&R Block's pricing transparency does not offset volume pressure
BTIG analyst Mark Palmer kept his Sell rating and $19 price target on H&R Block, saying that despite the company's promise to "reduce assisted tax preparation prices for many customers by allowing to calculate how much they will pay before the tax prep process begins", the 2019 tax season assisted volume estimates look "vulnerable". The analyst adds that the added disclosure is not sufficiently "meaningful" to offset the headwinds faced by H&R Block in next year's tax prep season.
01/31/19
GSCO
01/31/19
DOWNGRADE
Target $22
GSCO
Sell
H&R Block downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst George Tong downgraded H&R Block to Sell and lowered his price target for the shares to $22 from $27. The analyst sees "structural challenges" to the company's assisted business following tax reform in the U.S. The doubling of the standard deduction reduces the proportion of filers that need to itemize, Tong tells investors in a research note. This dynamic, coupled with the discontinuation of multiple promotions in 2019, will contribute to accelerated declines in H&R Block's assisted tax volumes, says the analyst.

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