H&R Block Falls Slightly After Q2 Earnings Miss
H&R Block (NYSE: HRB) was trading down less than one percent in after hours trading after the company announced its second quarter results.
The financial service provider reported a Q2 EPS of $(0.42) versus the Street estimate of $(0.37).
Earnings per share were down 14 percent from the year-ago period.
Revenue came in at $134.3 million versus the Street estimate of $137.85 million. Sales were down two percent year-over-year.
"I'm pleased with the initiatives we have in place for the upcoming tax season and am confident that we are well positioned to again deliver strong results this year," Bill Cobb, H&R Block's president and CEO, said in a company release. "We've also made progress in the process of divesting our bank, and remain committed to continue offering best-in-class financial products."
Overall, H&R Block has performed fairly well this year. As of Monday, December 9, the company's shares have gained more than 52 percent year-to-date.
In October, Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its Price Target from $25 to $35 after H&R Block partnered with GoHealth.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.