Oppenheimer Names H&R Block in December's Top Ideas

A report from Oppenheimer reiterates its Outperform rating on H&R Block (NYSE: HRB).

The report states, “HRB is a leading brand in a highly-resilient (140 million federal tax returns filed annually) U.S.-centric business. We anticipate a second consecutive successful tax season in 2012 for HRB via solid marketing/execution in online, and the same for storefront, where we anticipate another year of incremental attrition among the independents due to regulation changes. In our view, HRB is attractively valued at 9x our CY12 EPS estimate of $1.74 and currently pays a dividend yield of ~4%.”

HRB closed Friday at $14.41.