Hasbro Inc. (HAS) Rating 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 released 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.”
HAS has been the topic of several other research reports. Vetr lowered Hasbro from a “buy” rating to a “hold” rating and set a $88.94 price target on the stock. in a research note on Monday, June 20th. Piper Jaffray Cos. raised Hasbro from a “neutral” rating to an “overweight” rating and set a $88.00 price target on the stock in a research note on Tuesday, July 19th. They noted that the move was a valuation call. Jefferies Group boosted their price target on Hasbro from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, July 13th. MKM Partners reaffirmed a “hold” rating and issued a $84.00 price target on shares of Hasbro in a research note on Tuesday, July 12th. Finally, Barclays PLC decreased their price target 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. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $86.90.
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Hasbro (NASDAQ:HAS) traded down 1.11% on Thursday, reaching $76.78. The company had a trading volume of 645,887 shares. The company’s 50 day moving average price is $79.96 and its 200-day moving average price is $82.64. Hasbro has a 12 month low of $64.91 and a 12 month high of $88.53. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 20.12 and a beta of 1.00.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The business had revenue of $878.90 million for the quarter, compared to analyst estimates of $858.97 million. Hasbro had a return on equity of 29.71% and a net margin of 10.42%. Hasbro’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts predict that Hasbro will post $4.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, October 28th. Hasbro’s dividend payout ratio (DPR) is presently 53.40%.
Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in shares of Hasbro during the second quarter valued at about $115,000. Mizuho Asset Management Co. Ltd. raised its position in shares of Hasbro by 77.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,476 shares of the company’s stock valued at $124,000 after buying an additional 645 shares during the period. Global X Management Co. LLC raised its position in shares of Hasbro by 380.0% in the second quarter. Global X Management Co. LLC now owns 1,560 shares of the company’s stock valued at $131,000 after buying an additional 1,235 shares during the period. Pacer Advisors Inc. raised its position in shares of Hasbro by 21.6% in the second quarter. Pacer Advisors Inc. now owns 2,057 shares of the company’s stock valued at $173,000 after buying an additional 366 shares during the period. Finally, National Asset Management Inc. purchased a new position in shares of Hasbro during the second quarter valued at about $203,000. 76.79% of the stock is currently owned by institutional investors and hedge funds.
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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