H & R Block Stock Climbs on Results Beat

The stock is headed into positive territory for 2023, recovering from its May lows

Deputy Editor
Aug 16, 2023 at 9:07 AM
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H & R Block Inc (NYSE:HRB) is up 4.3% at $36.86 premarket, after the company's better-than-expected fiscal fourth-quarter results and strong full-year forecast. The tax services name also hiked its dividend by 10%. 

Should these gains hold, HRB will jump above recent pressure at the $36 level, as well as its 200-day moving average. Continuing to move higher from its May 23 one-year low of $28.83, the equity is looking to recover its 3.2% year-to-date deficit. 

Analysts have yet to chime in after the earnings event. The three brokerages in coverage are mixed on HRB, with one carrying a "strong buy," one a "hold," and one a "strong sell." Meanwhile, the 12-month consensus price target of $38.67 is roughly in line with the stock's moves before the bell today. 

It's also worth noting that short interest represents 9.2% of the stock's available float, leaving plenty of pent-up buying power. It would take shortly nearly eight days to cover their bets, at HRB's average pace of trading. 

 

 

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