Barrington Research Maintains Market Perform Rating on H&R Block

A report from Barrington Research reiterates its Market Perform rating on H&R Block (NYSE: HRB).

The report states, “Last night, after the market's close, H&R Block reported the financial results of its fiscal second quarter (ended October 31), with revenues above our estimate (adjusted for the divestiture of RSM McGladrey) and the seasonal net loss slightly greater than our estimate. However, because HRB is in its off-season for its tax business, it is difficult to extrapolate any meaningful conclusion from the second quarter's results as the majority of revenues and more than 100% of full-year earnings come in the fiscal second half, most notably in the fourth quarter.”

HRB closed yesterday at $16.06.