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H&R Block

H&R Block HRBHad it just been a one-time event, last quarter’s earnings miss for H&R Block (HRB) might have been dismissible. But it wasn’t.

The tax preparer/bank missed estimates in its two most recent quarters, and fell short in five of the past seven quarters. Now it’s selling its banking business, which is good news in terms of getting and staying focused, but could be a problem in terms of reliable revenue.

Throw in the continued taxpayer migration from tax filing companies like H&R Block to online-filing services, and even its core business is under attack. Already below risk-free rates, there’s no real clarity on how — or even if — the current 2.5% yield will survive.

Article printed from InvestorPlace Media,

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