BTIG analyst Mark Palmer reiterated a Sell rating on H&R Block (NYSE: HRB) yesterday and set a price target of $17. The company’s shares opened today at $25.18.
Palmer observed:
“Gerke Tapped to Take Over as Interim CEO on Aug. 1 H&R Block (HRB) this morning announced that CEO and President Bill Cobb will retire from the company and the board effective July 31 following six years at the helm. HRB stated that Tom Gerke, the company’s general counsel and chief administrative officer, will assume the role of interim CEO and president on August 1.”
According to TipRanks.com, Palmer is a 4-star analyst with an average return of 2.5% and a 49.7% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.
H&R Block has an analyst consensus of Hold, with a price target consensus of $21.50.
Based on H&R Block’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $452 million and GAAP net loss of $105 million. In comparison, last year the company earned revenue of $2.3 billion and had a net profit of $700 million.
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H&R Block, Inc. provides tax preparation and banking services. Through its subsidiaries, it offers assisted and do-it-yourself (DIY) tax return preparation through multiple channels (including in-person, online and mobile applications, and desktop software) and distribute the H&R Block-branded financial products and services of BofI. The company was founded by Henry W. Bloch and Richard L. Bloch on January 25, 1955 and is headquartered in Kansas City, MO.