Zacks Investment Research upgraded shares of Hasbro, Inc. (NASDAQ:HAS) from a hold rating to a buy rating in a research note released on Thursday. They currently have $107.00 price target on the stock.
According to Zacks, “Hasbro‘s earnings have topped the Zacks Consensus Estimate in all the trailing 10 quarters. Revenues too have been surpassing the consensus mark, except for the last quarter. Consistent efforts to establish its global presence via strategic partnerships and rapid growth in emerging markets should continue driving the top- and bottom–line performance. Going forward, the Franchise and Partner Brands, particularly, are expected to perform consistently in 2017 given global digital content and innovative offerings. Yet, rising competition from alternative modes of entertainment might limit top-line growth, while high costs along with macroeconomic and currency headwinds may dent profits. Even so, this year’s rich content slate, new product launches, various sales boosting initiatives along with a favorable gaming portfolio is likely to drive growth ahead. “
Several other research analysts have also recently issued reports on HAS. DA Davidson reissued a buy rating and issued a $118.00 target price on shares of Hasbro in a research report on Tuesday, May 23rd. Jefferies Group LLC started coverage on Hasbro in a research report on Thursday, June 8th. They issued a buy rating and a $125.00 target price on the stock. Argus started coverage on Hasbro in a research report on Friday, June 16th. They issued a buy rating and a $128.00 target price on the stock. BidaskClub raised Hasbro from a buy rating to a strong-buy rating in a research report on Thursday, June 22nd. Finally, Stifel Nicolaus reissued a hold rating and issued a $107.00 target price (up from $100.00) on shares of Hasbro in a research report on Thursday, July 13th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Hasbro presently has an average rating of Hold and a consensus target price of $107.27.
Shares of Hasbro (NASDAQ:HAS) traded down 0.24% during trading on Thursday, hitting $94.84. 1,454,306 shares of the company were exchanged. The stock has a market capitalization of $11.86 billion, a PE ratio of 20.54 and a beta of 0.92. The company has a 50 day moving average of $97.86 and a 200-day moving average of $102.06. Hasbro has a 1-year low of $76.14 and a 1-year high of $116.20.
Hasbro (NASDAQ:HAS) last announced its earnings results on Monday, July 24th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $972.51 million for the quarter, compared to analysts’ expectations of $974.19 million. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, analysts forecast that Hasbro will post $5.07 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. Hasbro’s payout ratio is currently 49.35%.
In other news, Director Alan G. Hassenfeld sold 280,906 shares of Hasbro stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $105.68, for a total transaction of $29,686,146.08. Following the transaction, the director now directly owns 29,140 shares of the company’s stock, valued at approximately $3,079,515.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President John Frascotti sold 25,658 shares of Hasbro stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $94.81, for a total value of $2,432,634.98. Following the transaction, the president now directly owns 105,615 shares in the company, valued at $10,013,358.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,423,264 shares of company stock worth $145,144,664. Insiders own 11.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. TrimTabs Asset Management LLC purchased a new position in Hasbro in the 1st quarter worth approximately $119,000. YorkBridge Wealth Partners LLC lifted its holdings in Hasbro by 2.8% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,164 shares of the company’s stock worth $129,000 after purchasing an additional 32 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Hasbro in the 1st quarter worth approximately $131,000. Oakworth Capital Inc. lifted its holdings in Hasbro by 7.2% in the 2nd quarter. Oakworth Capital Inc. now owns 1,207 shares of the company’s stock worth $135,000 after purchasing an additional 81 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Hasbro by 5,800.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,416 shares of the company’s stock worth $141,000 after purchasing an additional 1,392 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.
Hasbro Company Profile
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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