H&R Block (NYSE: HRB) is expected to report Q3 earnings on March 7. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict H&R Block's revenues will drop -11.4% and EPS will remain in the red.

The average estimate for revenue is $587.4 million. On the bottom line, the average EPS estimate is -$0.01.

Revenue details
Last quarter, H&R Block reported revenue of $137.3 million. GAAP reported sales were 6.8% higher than the prior-year quarter's $119.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at -$0.37. GAAP EPS were -$0.39 for Q2 against -$0.47 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 33.6%, much better than the prior-year quarter. Operating margin was -118.9%, much better than the prior-year quarter. Net margin was -82.6%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.96 billion. The average EPS estimate is $1.67.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 359 members out of 536 rating the stock outperform, and 177 members rating it underperform. Among 146 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 90 give H&R Block a green thumbs-up, and 56 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on H&R Block is outperform, with an average price target of $20.86.

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