Compass Point Maintains a 'Buy' on H & R Block (HRB); Q4 Preview: What You Need To Know
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Price: $29.19 -1.52%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade HRB Now!
Compass Point maintains a 'Buy' on H & R Block (NYSE: HRB) price target of $18.50.
Analyst, Mike Turner, said, "Block will release earnings after the close on Tuesday, June 26. The stock has rebounded roughly $1 from the $14.50 low reached after the pre-announcement in late April. Overall, we expect there should be some positive clarity on buybacks and the capital structure; however, we would be surpised if we get an open Kimono in the release. The potential removal of the minimum net worth covenant and finalized plans on the capital structure will likely take time as the recent addition of a new CFO has the potential to slow the plans. Thus, while these items may not be a high probability next Tuesday, we view them as an option to the upside. Alternatively, any potential weakness should be bolstered by the potential for a sizeable buyback that should occur in the summer/fall months."
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 $15.46 yesterday, with a 52 week range of $12.54-$17.46.
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Analyst, Mike Turner, said, "Block will release earnings after the close on Tuesday, June 26. The stock has rebounded roughly $1 from the $14.50 low reached after the pre-announcement in late April. Overall, we expect there should be some positive clarity on buybacks and the capital structure; however, we would be surpised if we get an open Kimono in the release. The potential removal of the minimum net worth covenant and finalized plans on the capital structure will likely take time as the recent addition of a new CFO has the potential to slow the plans. Thus, while these items may not be a high probability next Tuesday, we view them as an option to the upside. Alternatively, any potential weakness should be bolstered by the potential for a sizeable buyback that should occur in the summer/fall months."
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 $15.46 yesterday, with a 52 week range of $12.54-$17.46.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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