Hasbro (NASDAQ:HAS) Stock Rating Reaffirmed by DA Davidson

DA Davidson reissued their neutral rating on shares of Hasbro (NASDAQ:HAS) in a report released on Friday, Benzinga reports. The firm currently has a $59.00 price objective on the stock. DA Davidson also issued estimates for Hasbro’s Q3 2024 earnings at $1.39 EPS.

HAS has been the subject of a number of other reports. Roth Mkm increased their price target on Hasbro from $65.00 to $75.00 and gave the stock a buy rating in a report on Thursday, April 25th. Jefferies Financial Group increased their price objective on shares of Hasbro from $61.00 to $63.00 and gave the stock a buy rating in a research report on Friday, April 19th. Stifel Nicolaus increased their price objective on shares of Hasbro from $64.00 to $67.00 and gave the stock a buy rating in a research report on Monday, April 15th. JPMorgan Chase & Co. raised shares of Hasbro from a neutral rating to an overweight rating and increased their price objective for the stock from $61.00 to $74.00 in a research report on Thursday, May 23rd. Finally, Bank of America raised shares of Hasbro from a neutral rating to a buy rating and increased their price objective for the stock from $70.00 to $80.00 in a research report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $70.08.

Hasbro Stock Performance

NASDAQ HAS opened at $64.70 on Friday. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -6.38, a PEG ratio of 0.50 and a beta of 0.62. Hasbro has a twelve month low of $42.66 and a twelve month high of $73.57. The stock has a fifty day simple moving average of $59.55 and a 200 day simple moving average of $56.12. The company has a quick ratio of 1.27, a current ratio of 1.46 and a debt-to-equity ratio of 2.95.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.44. The business had revenue of $995.30 million during the quarter, compared to the consensus estimate of $941.38 million. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. Hasbro’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Sell-side analysts expect that Hasbro will post 3.86 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $2.80 dividend on an annualized basis and a yield of 4.33%. Hasbro’s dividend payout ratio is -27.61%.

Insider Activity at Hasbro

In related news, EVP Tarrant L. Sibley sold 13,000 shares of Hasbro stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total value of $783,380.00. Following the completion of the transaction, the executive vice president now directly owns 53,003 shares in the company, valued at approximately $3,193,960.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HAS. UBS Group AG grew its position in shares of Hasbro by 43.1% during the 4th quarter. UBS Group AG now owns 329,666 shares of the company’s stock valued at $16,833,000 after purchasing an additional 99,263 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Hasbro by 77.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 48,657 shares of the company’s stock valued at $2,750,000 after purchasing an additional 21,204 shares in the last quarter. CWM LLC grew its position in shares of Hasbro by 37.1% during the 4th quarter. CWM LLC now owns 1,910 shares of the company’s stock valued at $97,000 after purchasing an additional 517 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Hasbro by 351.7% during the 1st quarter. Intech Investment Management LLC now owns 24,411 shares of the company’s stock valued at $1,380,000 after purchasing an additional 19,007 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Hasbro during the 4th quarter valued at $70,544,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Company Profile

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.