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Why H & R Block Inc (HRB) Stock Is Surging Today

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H & R Block Inc (NYSE: HRB ) shares are soaring Wednesday as the company reported its quarterly earnings data after hours Tuesday.

The company - which offers tax preparation services and other financial services - lost 49 cents per share over the course of its third quarter, which was worse than the 34 cents per share it lost in the same quarter of the previous year.

However, the figure still topped the 52-cent-per-share loss that the consensus estimate called for. Revenue amounted to $451.9 million, beating the projection of $427.4 million, but failing to reach the heights of the previous year when H&R Block raked in $474.5 million.

The company also unveiled that shareholders will receive a quarterly dividend of 22 cents per share, as long as they're on record as of Tuesday, March 14, marking an 88-cent dividend on an annualized basis. Eleven analysts covering gave HRB an average rating of a "hold," with seven analysts giving the company this rating.

The company also unveiled that it is on Donald Trump's side regarding his tax reform plans as H&R Block believes the move will help citizens, despite a lot of uncertainty surrounding the plans.

"People are going to be confused. I think they're going to turn to us for help," CEO Bill Cobb said during a session with investment analysts Tuesday. "I'm puzzled why people think this is a negative for us."

HRB stock is up 16.3% Wednesday afternoon.

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


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

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