Hasbro (NASDAQ:HAS) Shares Gap Down – What’s Next?

Hasbro, Inc. (NASDAQ:HAS) gapped down before the market opened on Wednesday . The stock had previously closed at $97.18, but opened at $89.25. Hasbro shares last traded at $89.7060, with a volume of 344,961 shares.

More Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro beat Q1 EPS and revenue expectations, with digital gaming and Wizards of the Coast driving strong growth. Article Title
• Positive Sentiment: Analysts turned more constructive after the report, with BNP Paribas Exane raising its price target and DA Davidson reaffirming a neutral rating with upside to its target. Article Title
• Neutral Sentiment: Hasbro and Formula 1 unveiled a Monopoly Formula 1 edition, adding another brand partnership and potential licensing opportunity. Article Title
• Neutral Sentiment: The company announced new Marvel Legends figures and Comic-Con exclusives, which supports its collectibles business but is not likely a major near-term stock driver. Article Title
• Negative Sentiment: Shares fell after the earnings release because investors were disappointed that Hasbro kept full-year guidance unchanged rather than raising it. Article Title
• Negative Sentiment: Management warned that cash flow could remain uneven as the company works through cyber-related invoicing delays from the March attack. Article Title

Analysts Set New Price Targets

Several brokerages have recently issued reports on HAS. Wells Fargo & Company reduced their price objective on Hasbro from $98.00 to $92.00 and set an “equal weight” rating for the company in a research report on Thursday. Bank of America boosted their price objective on Hasbro from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Argus set a $105.00 price objective on Hasbro in a research report on Friday, March 13th. Roth Mkm set a $120.00 price objective on Hasbro in a research report on Wednesday, February 11th. Finally, BNP Paribas Exane boosted their price objective on Hasbro from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.64.

Hasbro Price Performance

The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of -54.27, a P/E/G ratio of 2.59 and a beta of 0.52. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59. The business has a 50-day simple moving average of $93.23 and a two-hundred day simple moving average of $89.41.

Hasbro (NASDAQ:HAS) last released its earnings results on Wednesday, May 20th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, research analysts predict that Hasbro, Inc. will post 5.8 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Monday, June 1st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, June 1st. Hasbro’s dividend payout ratio is -119.15%.

Insiders Place Their Bets

In other Hasbro news, CEO Christian P. Cocks sold 196,411 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $100.33, for a total value of $19,705,915.63. Following the completion of the sale, the chief executive officer directly owned 303,310 shares in the company, valued at $30,431,092.30. This represents a 39.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Hasbro by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company’s stock valued at $1,392,088,000 after buying an additional 453,038 shares in the last quarter. State Street Corp increased its holdings in shares of Hasbro by 2.1% in the second quarter. State Street Corp now owns 6,508,052 shares of the company’s stock valued at $480,424,000 after buying an additional 131,678 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Hasbro by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock valued at $357,286,000 after buying an additional 1,399,499 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hasbro by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock valued at $299,700,000 after buying an additional 122,592 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Hasbro by 21.9% in the third quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock valued at $275,579,000 after buying an additional 651,790 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.