Hasbro Inc. (HAS) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Hasbro’s earnings and revenues have topped the Zacks Consensus Estimate in all the trailing-six quarters despite currency headwinds. The company’s efforts to establish its global presence through strategic partnerships and rapid growth in emerging markets has been driving top-and bottom line performance. Also, various sales boosting and cost saving initiatives along with regular share buybacks and dividend payments bode well. Estimates too have been stable lately ahead of Hasbro’s third quarter earnings release. Notably, the Boys segment has been posting sales growth since the start of 2014. Meanwhile, though the Girls segment marked a turnaround in the first half of 2016 after a dreadful 2015, it remains to be seen if it can sustain its performance. Also, lack of growth at some of Hasbro’s brands is a concern. Further, an increase in costs related to initiatives undertaken to boost business is likely to pressurize profits.”
A number of other research analysts have also weighed in on the stock. Vetr raised shares of Hasbro from a hold rating to a buy rating and set a $85.90 target price for the company in a research report on Monday, September 12th. Barclays PLC cut their target price on shares of Hasbro from $91.00 to $89.00 and set an equal weight rating for the company in a research report on Tuesday, July 19th. Piper Jaffray Cos. raised shares of Hasbro from a neutral rating to an overweight rating and set a $88.00 target price for the company in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Jefferies Group boosted their target price on shares of Hasbro from $80.00 to $82.00 and gave the stock a hold rating in a research report on Wednesday, July 13th. Finally, MKM Partners reissued a hold rating and set a $84.00 target price on shares of Hasbro in a research report on Tuesday, July 12th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $86.90.
Hasbro (NASDAQ:HAS) traded up 1.03% during trading on Thursday, reaching $77.41. The company had a trading volume of 600,676 shares. Hasbro has a 12-month low of $64.91 and a 12-month high of $88.53. The stock has a market cap of $9.71 billion, a P/E ratio of 20.29 and a beta of 1.00. The firm has a 50-day moving average price of $79.83 and a 200 day moving average price of $82.60.
Hasbro (NASDAQ:HAS) last released its earnings results on Monday, July 18th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The firm earned $878.90 million during the quarter, compared to analyst estimates of $858.97 million. Hasbro had a net margin of 10.42% and a return on equity of 29.71%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. Equities research analysts predict that Hasbro will post $4.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be issued a $0.51 dividend. The ex-dividend date is Friday, October 28th. This represents a $2.04 annualized dividend and a yield of 2.66%. Hasbro’s dividend payout ratio is currently 53.40%.
A number of institutional investors have recently made changes to their positions in HAS. Geode Capital Management LLC raised its stake in Hasbro by 6.7% in the first quarter. Geode Capital Management LLC now owns 985,897 shares of the company’s stock valued at $78,821,000 after buying an additional 62,000 shares during the period. Cleararc Capital Inc. purchased a new stake in Hasbro during the first quarter valued at $219,000. HBK Investments L P raised its stake in Hasbro by 837.0% in the first quarter. HBK Investments L P now owns 44,041 shares of the company’s stock valued at $3,528,000 after buying an additional 39,341 shares during the period. GW&K Investment Management LLC raised its stake in Hasbro by 5.8% in the second quarter. GW&K Investment Management LLC now owns 295,114 shares of the company’s stock valued at $24,787,000 after buying an additional 16,049 shares during the period. Finally, Penserra Capital Management LLC raised its stake in Hasbro by 401.6% in the second quarter. Penserra Capital Management LLC now owns 5,402 shares of the company’s stock valued at $454,000 after buying an additional 4,325 shares during the period. Institutional investors and hedge funds own 76.79% of the company’s stock.
Hasbro, Inc (Hasbro) is a branded-play company. The Company’s operating segments include the U.S. and Canada segment, the International segment, the Entertainment and Licensing segment, and Global Operations segment. The U.S. and Canada segment is engaged in the marketing and sale of its products in the United States.
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