Hasbro Inc. (HAS) Lowered to “Hold” at Zacks Investment Research
Hasbro Inc. (NASDAQ:HAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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.”
Several other analysts also recently weighed in on the stock. Vetr upgraded shares of Hasbro from a “hold” rating to a “buy” rating and set a $85.90 price objective for the company in a research report on Monday, September 12th. Barclays PLC reduced their price target on shares of Hasbro from $91.00 to $89.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 19th. Piper Jaffray Cos. upgraded shares of Hasbro from a “neutral” rating to an “overweight” rating and set a $88.00 price target for the company in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Jefferies Group upped their price target on shares of Hasbro from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, July 13th. Finally, MKM Partners reiterated a “hold” rating and issued a $84.00 price target on shares of Hasbro in a research report on Tuesday, July 12th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Hasbro currently has an average rating of “Hold” and a consensus price target of $86.90.
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Hasbro (NASDAQ:HAS) traded down 1.12% during mid-day trading on Thursday, reaching $76.77. 629,813 shares of the company traded hands. The stock’s 50 day moving average price is $79.96 and its 200 day moving average price is $82.64. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 20.12 and a beta of 1.00. Hasbro has a 52 week low of $64.91 and a 52 week high of $88.53.
Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business earned $878.90 million during the quarter, compared to the consensus estimate of $858.97 million. Hasbro had a net margin of 10.42% and a return on equity of 29.71%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. Equities analysts forecast that Hasbro will post $4.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $2.04 annualized dividend and a yield of 2.63%. Hasbro’s dividend payout ratio is currently 53.40%.
A number of institutional investors have recently made changes to their positions in HAS. Tower Research Capital LLC TRC bought a new position in Hasbro during the second quarter worth $115,000. Mizuho Asset Management Co. Ltd. boosted its position in Hasbro by 77.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,476 shares of the company’s stock worth $124,000 after buying an additional 645 shares during the period. Global X Management Co. LLC boosted its position in Hasbro by 380.0% in the second quarter. Global X Management Co. LLC now owns 1,560 shares of the company’s stock worth $131,000 after buying an additional 1,235 shares during the period. Pacer Advisors Inc. boosted its position in Hasbro by 21.6% in the second quarter. Pacer Advisors Inc. now owns 2,057 shares of the company’s stock worth $173,000 after buying an additional 366 shares during the period. Finally, National Asset Management Inc. bought a new position in Hasbro during the second quarter worth $203,000. 76.79% of the stock is currently owned by 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.
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