Zacks Investment Research upgraded shares of Hasbro Inc. (NASDAQ:HAS) from a hold rating to a buy rating in a report released on Monday morning. Zacks Investment Research currently has $87.00 target price on the stock.
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.”
HAS has been the topic of a number of other reports. Barclays PLC reduced their target price on shares of Hasbro from $91.00 to $89.00 and set an equal weight rating on the stock in a research note on Tuesday, July 19th. Vetr raised shares of Hasbro from a hold rating to a buy rating and set a $89.80 target price on the stock in a research note on Monday, June 13th. Piper Jaffray Cos. downgraded shares of Hasbro from an overweight rating to a neutral rating and set a $88.00 target price on the stock. in a research note on Thursday, May 26th. They noted that the move was a valuation call. MKM Partners reaffirmed a hold rating and set a $84.00 target price on shares of Hasbro in a research note on Tuesday, July 12th. Finally, Jefferies Group lifted their target price on shares of Hasbro from $80.00 to $82.00 and gave the stock a hold rating in a research note on Wednesday, July 13th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Hasbro has a consensus rating of Hold and a consensus target price of $86.41.
Hasbro (NASDAQ:HAS) opened at 78.97 on Monday. Hasbro has a 1-year low of $64.91 and a 1-year high of $88.53. The stock’s 50 day moving average is $80.75 and its 200-day moving average is $82.52. The company has a market capitalization of $9.90 billion, a P/E ratio of 20.69 and a beta of 1.11.
Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The firm had revenue of $878.90 million for the quarter, compared to the consensus estimate of $858.97 million. Hasbro had a net margin of 10.42% and a return on equity of 29.71%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. On average, analysts expect that Hasbro will post $4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, October 28th. Hasbro’s payout ratio is 53.40%.
Several hedge funds and other institutional investors have recently modified their holdings of HAS. Tower Research Capital LLC TRC bought a new position in shares of Hasbro during the second quarter valued at about $115,000. Mizuho Asset Management Co. Ltd. increased its stake in Hasbro by 77.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,476 shares of the company’s stock valued at $124,000 after buying an additional 645 shares during the period. Global X Management Co. LLC increased its stake in Hasbro by 380.0% in the second quarter. Global X Management Co. LLC now owns 1,560 shares of the company’s stock valued at $131,000 after buying an additional 1,235 shares during the period. Pacer Advisors Inc. increased its stake in Hasbro by 21.6% in the second quarter. Pacer Advisors Inc. now owns 2,057 shares of the company’s stock valued at $173,000 after buying an additional 366 shares during the period. Finally, National Asset Management Inc. acquired a new stake in Hasbro during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 76.78% 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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