Here’s a stock you don’t usually hear about until spring rolls around: H&R Block, Inc. (NYSE: HRB), the tax preparation and consulting outfit, which reports earnings after the bell on Tuesday, Dec. 7. 

Let’s just say that it hasn’t been a great year for HRB. In fact, TheStreet.com had an article Tuesday noting that HRB is among the 10 worst performing stocks of 2010 (it’s No. 3) with a return of -43%. Ouch. And analysts expect the company to post a loss of 38 cents per share this quarter after a 36-cent loss last quarter.

So what is there to like about HRB?

Well, here’s the thing. Despite all the negativity, the company has managed to beat the past four earnings estimates. And the stock has done pretty well after each report, gaining ground in the subsequent week by an average of just under 3%. 

Perhaps the stock performs well because expectations can’t get much lower. Along with the earnings estimate, short interest is robust and just 1 of 6 analysts recommends buying the stock.

On the charts, HRB is on a nice run, having gained about 25% off its October low (that underscores how lousy the rest of the year has been). The shares are currently sitting atop their 20-day and 50-day moving averages, trendlines that bullishly crossed for the first time in seven months.

We’re not expecting HRB to rock anyone’s world with its earnings report. But we do expect it to follow the lead of the past few quarters and beat by a couple of pennies, which should do the trick, given the Street’s expectations.

A modest bump in the shares should give buyers of the HRB Dec 13 Calls a solid return (pun notably intended).