Investing

Goldman Sachs Maintains H&R Block Sell Recommendation

George Maybach

Published: August 18, 2023 6:55 am

Last Updated: August 18, 2023 11:24 am

Fintel reports that on August 17, 2023, Goldman Sachs maintained coverage of H&R Block (NYSE:HRB) with a Sell recommendation.

Analyst Price Forecast Suggests 3.56% Downside

As of August 2, 2023, the average one-year price target for H&R Block is 37.40. The forecasts range from a low of 28.28 to a high of $44.10. The average price target represents a decrease of 3.56% from its latest reported closing price of 38.78.

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The projected annual revenue for H&R Block is 3,669MM, an increase of 5.67%. The projected annual non-GAAP EPS is 4.17.

What is the Fund Sentiment?

There are 944 funds or institutions reporting positions in H&R Block. This is a decrease of 40 owner(s) or 4.07% in the last quarter. Average portfolio weight of all funds dedicated to HRB is 0.19%, a decrease of 11.18%. Total shares owned by institutions decreased in the last three months by 5.10% to 150,786K shares. The put/call ratio of HRB is 1.38, indicating a bearish outlook.

What are Other Shareholders Doing?

Lazard Asset Management holds 5,110K shares representing 3.36% ownership of the company. In it’s prior filing, the firm reported owning 3,044K shares, representing an increase of 40.42%. The firm increased its portfolio allocation in HRB by 54.18% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,704K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 4,723K shares, representing a decrease of 0.41%. The firm decreased its portfolio allocation in HRB by 11.21% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,698K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 4,801K shares, representing a decrease of 2.20%. The firm decreased its portfolio allocation in HRB by 9.58% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,985K shares representing 2.62% ownership of the company. In it’s prior filing, the firm reported owning 4,005K shares, representing a decrease of 0.50%. The firm decreased its portfolio allocation in HRB by 7.80% over the last quarter.

DVY – iShares Select Dividend ETF holds 3,900K shares representing 2.56% ownership of the company. In it’s prior filing, the firm reported owning 4,494K shares, representing a decrease of 15.23%. The firm decreased its portfolio allocation in HRB by 16.46% over the last quarter.

H&R Block Background Information
(This description is provided by the company.)

H&R Block, Inc. provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial products, and small business solutions. The company blends digital innovation with the human expertise and care of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors and Wave, the company helps small business owners thrive with innovative products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically.

This article originally appeared on Fintel