H&R Block (HRB) Upside on Season-End Tax Return Volume Unlikely - Analyst
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Price: $60.63 +1.30%
Rating Summary:
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Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade INTU Now!
H&R Block (HRB) is expected to report season-end tax results after the close on Wednesday and according Oppenheimer equity research, "upside relative to expectations for HRB appears unlikely."
They base their analysis on YTD tax returns received by the IRS, adjust for volumes reported by HRB's competitors, particularly Intuit (Nasdaq: INTU) who reported slightly lower volumes on Friday.
That said, Oppenheimer analysts think HRB is set to outperform and could trade closer to its historic range of approximately 12x EPS vs.10x EPS. If so, we could see the price move closer to $20 per share compared to $16.41, which is where it stands now.
The firm is maintaining their Outperform rating on the stock.
Track breaking news on HRB and other stocks at EasyStockAlerts.com
For an analyst ratings summary and ratings history on H & R Block click here. For more ratings news on H & R Block click here.
Shares of H & R Block closed at $16.80 yesterday, with a 52 week range of $12.54-$17.99.
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They base their analysis on YTD tax returns received by the IRS, adjust for volumes reported by HRB's competitors, particularly Intuit (Nasdaq: INTU) who reported slightly lower volumes on Friday.
That said, Oppenheimer analysts think HRB is set to outperform and could trade closer to its historic range of approximately 12x EPS vs.10x EPS. If so, we could see the price move closer to $20 per share compared to $16.41, which is where it stands now.
The firm is maintaining their Outperform rating on the stock.
Track breaking news on HRB and other stocks at EasyStockAlerts.com
For an analyst ratings summary and ratings history on H & R Block click here. For more ratings news on H & R Block click here.
Shares of H & R Block closed at $16.80 yesterday, with a 52 week range of $12.54-$17.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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What do you guys think?
John Bernard on Apr 30, 2012 05:51 AMMark as Spam | Reply to this comment
I have been trading this HRB for awhile now. I got alerted well before the volume started to pick up and because of this I was able to score a nice profit a few times. The report helped me understand the complete scenario and the pros and cons. It’s always best to buy before everyone else does. Check it out at vippennystocksite.com (Kindly, copy and paste the link in to your browser.)