Hasbro Inc. (NASDAQ:HAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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.”
Other equities research analysts have also recently issued reports about the company. Piper Jaffray Cos. upgraded Hasbro from a “neutral” rating to an “overweight” rating and set a $88.00 target price on the stock in a research note on Tuesday, July 19th. They noted that the move was a valuation call. Vetr upgraded Hasbro from a “hold” rating to a “buy” rating and set a $85.90 target price on the stock in a research note on Monday, September 12th. Barclays PLC cut their target price on Hasbro from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 19th. MKM Partners reiterated a “hold” rating and issued a $84.00 target price on shares of Hasbro in a research note on Tuesday, July 12th. Finally, Jefferies Group raised their target price on Hasbro from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, July 13th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Hasbro currently has a consensus rating of “Hold” and an average target price of $86.90.
Shares of Hasbro (NASDAQ:HAS) opened at 76.16 on Thursday. Hasbro has a 52 week low of $64.91 and a 52 week high of $88.53. The company has a 50-day moving average of $79.70 and a 200-day moving average of $82.58. The firm has a market capitalization of $9.55 billion, a PE ratio of 19.96 and a beta of 1.00.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Hasbro had a return on equity of 29.71% and a net margin of 10.42%. The firm had revenue of $878.90 million for the quarter, compared to analysts’ expectations of $858.97 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Hasbro will post $4.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, October 28th. Hasbro’s payout ratio is currently 53.40%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Hasbro by 111.6% in the third quarter. Nisa Investment Advisors LLC now owns 28,446 shares of the company’s stock worth $2,257,000 after buying an additional 15,000 shares during the last quarter. Capstone Asset Management Co. raised its position in Hasbro by 8.4% in the third quarter. Capstone Asset Management Co. now owns 16,046 shares of the company’s stock worth $1,273,000 after buying an additional 1,240 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Hasbro during the third quarter worth about $254,000. Pensionfund Sabic purchased a new position in Hasbro during the third quarter worth about $1,626,000. Finally, Pensionfund DSM Netherlands purchased a new position in Hasbro during the third quarter worth about $3,570,000. 76.78% of the stock is currently owned by hedge funds and other institutional investors.
Hasbro Company Profile
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.