H&R Block (HRB) was a top loser this month, diving -10.91% to $35.04 per share. This decline was significant for the company, as it saw its 50-day moving average cross bearishly below its 200-day moving average on February 16, 2023. This could indicate a long-term bearish signal for the stock as it shifts to a downward trend.
Of the 65 stocks analyzed in the Other Consumer Services Industry throughout this month, 13 of them (19.23%) exhibited an uptrend while 52 of them (80.77%) were in a downtrend. H&R Block was one of the 52 companies that experienced a downtrend. This indicates that the company was facing headwinds even within its industry.
The decline in H&R Block's stock price can be attributed to a variety of factors. The most notable of these factors is likely the company's recent financial performance. H&R Block reported disappointing results for its fiscal Q3 2023 earnings, which ended on January 31, 2023. The company's revenue for the quarter was $1.95 billion, which fell short of analysts' estimates. In addition, the company's earnings per share of $0.85 missed estimates by $0.09.
Another possible factor contributing to the decline in H&R Block's stock price is increased competition in the tax preparation industry. H&R Block faces stiff competition from other companies such as Intuit, which offers a popular tax preparation software called TurboTax. This competition has likely put pressure on H&R Block's revenue growth and profitability.
The Moving Average Convergence Divergence (MACD) for HRB turned positive on July 17, 2024. Looking at past instances where HRB's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of tax, mortgage and financial services
Industry OtherConsumerServices