In its year-ending quarter, the consumer tax services company earned an adjusted $3.24 a share, a penny higher than what analysts surveyed by Thomson Reuters anticipated. Revenue of $2.56 billion surged 16% year over year and beat estimates of $2.49 billion.
By midmorning, shares had added 3.3% to $31.75. Trading volume of 2.4 million shares had exceeded its three-month daily average of 2.3 million.
Must Read: Warren Buffett's 25 Favorite Stocks
TheStreet Ratings team rates BLOCK H & R INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLOCK H & R INC (HRB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, notable return on equity and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and feeble growth in the company's earnings per share."