Zacks Investment Research upgraded shares of Hasbro, Inc. (NASDAQ:HAS) from a hold rating to a buy rating in a research report released on Thursday. The firm currently has $107.00 target price 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. “
HAS has been the topic of several other reports. BidaskClub upgraded shares of Hasbro from a buy rating to a strong-buy rating in a research note on Saturday, July 8th. Stifel Nicolaus reiterated a hold rating and issued a $107.00 price target (up from $100.00) on shares of Hasbro in a research note on Thursday, July 13th. DA Davidson reiterated a buy rating and issued a $121.00 price target (up from $118.00) on shares of Hasbro in a research note on Saturday, July 22nd. Jefferies Group LLC reiterated a buy rating and issued a $125.00 price target on shares of Hasbro in a research note on Friday, July 21st. Finally, KeyCorp reissued an overweight rating and issued a $112.00 price objective on shares of Hasbro in a research report on Wednesday, August 30th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $107.27.
Shares of Hasbro (HAS) opened at 94.84 on Thursday. Hasbro has a one year low of $76.14 and a one year high of $116.20. The company 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 (NASDAQ:HAS) last issued its quarterly earnings results on Monday, July 24th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $972.51 million for the quarter, compared to analyst estimates of $974.19 million. During the same period in the previous year, the business earned $0.41 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate that Hasbro will post $5.07 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, October 31st. Hasbro’s payout ratio is 49.35%.
In related news, EVP Thomas J. Jr. Courtney sold 23,201 shares of Hasbro stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $106.51, for a total transaction of $2,471,138.51. Following the completion of the sale, the executive vice president now owns 28,511 shares of the company’s stock, valued at approximately $3,036,706.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barbara Finigan sold 23,483 shares of Hasbro stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $106.30, for a total transaction of $2,496,242.90. Following the sale, the executive vice president now directly owns 32,345 shares of the company’s stock, valued at approximately $3,438,273.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,423,264 shares of company stock valued at $145,144,664 in the last ninety days. 11.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its holdings in shares of Hasbro by 128.5% during the 2nd quarter. Nationwide Fund Advisors now owns 217,000 shares of the company’s stock worth $24,198,000 after buying an additional 122,023 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Hasbro by 6.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 652,418 shares of the company’s stock worth $65,125,000 after buying an additional 37,803 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Hasbro by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 195,063 shares of the company’s stock worth $21,752,000 after buying an additional 2,500 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Hasbro by 55.9% during the 1st quarter. Toronto Dominion Bank now owns 30,192 shares of the company’s stock worth $3,013,000 after buying an additional 10,821 shares during the period. Finally, James Investment Research Inc. bought a new stake in shares of Hasbro during the 2nd quarter worth about $1,441,000. 77.79% of the stock is owned by institutional investors and hedge funds.
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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