Tax preparation company, H&R Block, Inc.(
) reported Q3 loss on Thursday, but beat analysts loss
The Kansas City, MO based company reported a second quarter net
loss of -$105.24 million, or 39 cents per share, compared to last
years loss of -$141.72 million, or 47 cents per share. The
company's loss from continued operations was 37 cents per share. On
average, analysts expected a loss of 41 cents per share.
Reported revenue came in at $137.3 million, up 3% from last
years revenue of $129.2 million. Analysts expected to see revenue
of $129.6 million.
HRB reported that the majority of their earnings are obtained
from tax season, and they are expecting to improve earnings in the
next quarter. CEO Bill Cobb commented, "the U.S. tax season is
right around the corner and we believe we're on pace to deliver
significant earnings and margin expansion in fiscal 2013."
Additionally, the company reported that they have consulted with
Goldman Sachs to look into banking options. HRB hopes to eliminate
current regulations that they are abiding by.
H&R Block shares were mostly flat during premarket trading
Thursday. The stock is up 7.59% YTD.
The Bottom Line
Shares of H&R Block (
) have a 4.55% dividend yield, based on last night's closing stock
price of $17.57. The stock has technical support in the $16 price
area. If the shares can firm up, we see overhead resistance around
the $18-$20 price levels.
H&R Block, Inc.(
)is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.1 out of 5 stars.
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