H&R Block Swings to Q3 Loss, but Sees Positive Tax Data (HRB)

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Tax prep specialist H&R Block, Inc. ( HRB ) 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 share.

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 $871.5 million.

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 jumping 30%.

H&R Block shares rose 82 cents, or +5.2%, in premarket trading Thursday.

The Bottom Line
Shares of H&R Block ( HRB ) 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. ( HRB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: HRB



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