Zacks Investment Research lowered shares of Hasbro, Inc. (NASDAQ:HAS) from a hold rating to a sell rating in a research report report published on Monday.
According to Zacks, “Hasbro’s shares underperformed the industry year to date. Given the challenging retail environment for toys and increased competition from alternative modes of entertainment, we remain cautious about a major upturn in the stock’s performance. Further, estimates have been going down ahead of its third quarter earnings release. Nevertheless, consistent efforts to establish its global presence via strategic partnerships and rapid growth in emerging markets bode well. Also, the company has positive record of earnings surprises in recent quarters. Still, high costs along with macroeconomic and currency headwinds may pressurize profits.”
Other equities research analysts have also recently issued research reports about the stock. DA Davidson restated a buy rating and issued a $121.00 price objective (up previously from $118.00) on shares of Hasbro in a report on Saturday, July 22nd. Jefferies Group LLC restated a buy rating and issued a $125.00 price objective on shares of Hasbro in a report on Friday, July 21st. BidaskClub upgraded shares of Hasbro from a buy rating to a strong-buy rating in a report on Saturday, July 8th. Stifel Nicolaus restated a hold rating and issued a $107.00 price objective (up previously from $100.00) on shares of Hasbro in a report on Thursday, July 13th. Finally, Argus assumed coverage on shares of Hasbro in a report on Friday, June 16th. They issued a buy rating and a $128.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Hasbro has an average rating of Hold and an average price target of $107.45.
Shares of Hasbro (NASDAQ:HAS) opened at 96.60 on Monday. The stock has a 50 day moving average price of $95.90 and a 200 day moving average price of $101.80. The firm has a market capitalization of $12.08 billion, a P/E ratio of 20.92 and a beta of 0.92. Hasbro has a 52 week low of $76.14 and a 52 week high of $116.20.
Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Monday, July 24th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.07. Hasbro had a net margin of 11.44% and a return on equity of 32.24%. The company had revenue of $972.51 million during the quarter, compared to the consensus estimate of $974.19 million. During the same period in the prior year, the firm earned $0.41 earnings per share. Hasbro’s revenue was up 10.6% on a year-over-year basis. Analysts forecast that Hasbro will post $5.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Tuesday, October 31st. Hasbro’s payout ratio is 49.35%.
In related news, EVP Wiebe Tinga sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $104.01, for a total transaction of $2,600,250.00. Following the transaction, the executive vice president now owns 85,630 shares in the company, valued at $8,906,376.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan G. Hassenfeld sold 99,615 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $97.39, for a total transaction of $9,701,504.85. Following the transaction, the director now owns 29,140 shares in the company, valued at approximately $2,837,944.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,423,264 shares of company stock worth $145,144,664. Corporate insiders own 11.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors lifted its position in Hasbro by 128.5% during the second quarter. Nationwide Fund Advisors now owns 217,000 shares of the company’s stock valued at $24,198,000 after purchasing an additional 122,023 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Hasbro by 6.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 652,418 shares of the company’s stock valued at $65,125,000 after purchasing an additional 37,803 shares during the period. Prudential Financial Inc. lifted its position in Hasbro by 1.3% during the second quarter. Prudential Financial Inc. now owns 195,063 shares of the company’s stock valued at $21,752,000 after purchasing an additional 2,500 shares during the period. Federated Investors Inc. PA lifted its position in Hasbro by 121.6% during the second quarter. Federated Investors Inc. PA now owns 5,797 shares of the company’s stock valued at $646,000 after purchasing an additional 3,181 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Hasbro by 16.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 85,686 shares of the company’s stock valued at $9,555,000 after purchasing an additional 12,246 shares during the period. Institutional investors own 77.79% of the company’s stock.
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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