Tax prep specialist H&R Block, Inc. (
) late Wednesday said it swung to a fiscal third quarter loss,
although adjusted results beat analyst estimates, and the company
said it's seeing positive data in the early part of tax season.
The Kansas City-based company reported a fiscal third quarter
net loss of $12.7 million, or 4 cent per share, compared with a
profit of $50.6 million, or 15 cents per share, in the year-ago
period. Excluding one-time items, adjusted profit was 14 cents per
Revenue fell 9% from last year to $851.5 million.
On average, Wall Street analysts expected a smaller adjusted
profit of just 4 cents per share, albeit on higher revenue of
HRB offered some positive guidance for the current quarter,
noting that it saw a 6% uptick in tax returns prepared through
February when compared with last year. Digital performance lef the
way, with total digital returns rising 13% and online returns
H&R Block shares rose 82 cents, or +5.2%, in premarket
The Bottom Line
Shares of H&R Block (
) have a 3.95% dividend yield, based on last night's closing stock
price of $15.19. The stock has technical support in the $13 price
area. If the shares can firm up, we see overhead resistance around
the $16-$18 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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