H&R Block’s Estimates Boosted at Oppenheimer (HRB)

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Tax prep specialist H&R Block, Inc. ( HRB ) on Thursday saw its earnings estimates raised on Thursday by analysts at Oppenheimer.

The firm said it boosted its estimates for HRB through 2012, noting that the market hasn't yet factored in the company's cost-cutting measures. Oppenheimer currently rates the stock as an "Outperform" with a $22 price target.

H&R Block shares, which had closed at $16.14 on Wednesday, fell 14 cents, or -0.9%, in premarket trading Thursday.

The Bottom Line
We had removed shares of HRB from our "recommended" list Oct.6, 2008, when the stock was trading at $23.72. The company has a 3.58% dividend yield, based on last night's closing stock price of $16.74. The stock has technical support in the $14 price area. If the shares can firm up, we see overhead resistance around the $19 price level. We would remain on the sidelines for now.

H&R Block, Inc. ( HRB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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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