H&R Block, Inc. (NYSE:HRB) Sees Large Increase in Short Interest

H&R Block, Inc. (NYSE:HRB) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 11,610,000 shares, a growth of 13.9% from the October 31st total of 10,190,000 shares. Currently, 8.6% of the shares of the stock are short sold. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is presently 8.6 days.

H&R Block Trading Down 1.6 %

Shares of NYSE HRB traded down $0.96 during midday trading on Tuesday, reaching $58.15. 1,398,212 shares of the stock were exchanged, compared to its average volume of 1,623,893. The business has a 50-day simple moving average of $60.66 and a two-hundred day simple moving average of $58.11. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.90 and a beta of 0.66. H&R Block has a 12 month low of $42.28 and a 12 month high of $68.45. The company has a debt-to-equity ratio of 16.46, a current ratio of 0.77 and a quick ratio of 0.77.

H&R Block (NYSE:HRB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.04). H&R Block had a negative return on equity of 212.45% and a net margin of 16.19%. The firm had revenue of $193.81 million for the quarter, compared to the consensus estimate of $188.78 million. During the same period in the prior year, the business earned ($1.05) earnings per share. As a group, equities research analysts expect that H&R Block will post 5.27 EPS for the current year.

H&R Block announced that its Board of Directors has approved a share repurchase program on Thursday, August 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 16.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

H&R Block Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 5th will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.58%. H&R Block’s payout ratio is 36.59%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HRB. The Goldman Sachs Group raised their price objective on shares of H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of H&R Block in a research note on Friday, November 8th. Finally, StockNews.com cut shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Insider Activity

In other H&R Block news, VP Kellie J. Logerwell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $64.41, for a total value of $515,280.00. Following the transaction, the vice president now directly owns 18,474 shares of the company’s stock, valued at approximately $1,189,910.34. This trade represents a 30.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On H&R Block

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in H&R Block by 29.7% in the 3rd quarter. Franklin Resources Inc. now owns 250,280 shares of the company’s stock valued at $15,179,000 after buying an additional 57,311 shares during the last quarter. Tidal Investments LLC increased its stake in H&R Block by 70.1% in the 3rd quarter. Tidal Investments LLC now owns 19,495 shares of the company’s stock valued at $1,239,000 after buying an additional 8,036 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in H&R Block in the 3rd quarter valued at $169,000. World Investment Advisors LLC acquired a new stake in H&R Block in the 3rd quarter valued at $201,000. Finally, TD Private Client Wealth LLC increased its stake in H&R Block by 38.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,076 shares of the company’s stock valued at $386,000 after buying an additional 1,695 shares during the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.

H&R Block Company Profile

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.