Cramer Says Buy H&R Block
Cramer told viewers that the stock of tax-preparer H&R Block (HRB) is attractive at current levels after hte stock fell 10% on Thursday following the company’s weak earnings report. H&R Block missed earnings by 5 cents. Cramer explained that the stock is seasonal so you only want to be long it one quarter a year – and this wasn’t the quarter. He said he likes the name because he feels the stock will be a win no matter who becomes president, because we will get a new tax code. That will mean consumers will need more advice from a tax specialist like H&R Block. The company is also getting out of the mortgage business and concentrating more on the tax business. Also, the company is buying up a big franchise operator in Texas, Oklahoma and Arkansas, which will allow the company to covert 385 franchised locations into company-owned locations. Cramer said all of the above and the 2.35% yield plus a $2 billion buyback make H&R a buy on the selloff. Get the scoop on tomorrow’s hottest trade ideas – TODAY! BeaconEquity.com PREMIER PICKS have an amazing track record. Join this select group and ride the profit wave!
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