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 Friday.
According to Zacks, “Hasbro’s first-quarter 2017 adjusted earnings of $0.43 per share topped the Zacks Consensus Estimate by 16.2% and surged 13.2% year over year. Meanwhile, revenues of $849.7 million rose 2.2% year over year and beat the consensus mark by nearly 2%. The company’s revenues projected improvement in three out of its four brand portfolio categories. Notably, Hasbro’s shares have slightly underperformed the Zacks classified Toys/Games/Hobby Products industry year to date. Nonetheless, consistent efforts to establish its presence worldwide through strategic partnerships and rapid expansion in emerging markets bode well. This year’s rich content slate and diverse new initiatives should further drive growth. Yet, increased competition from alternative modes of entertainment might limit top-line growth, while high costs along with macroeconomic and currency headwinds may hurt profits.”
Other equities analysts also recently issued reports about the company. B. Riley began coverage on Hasbro in a research report on Monday, April 3rd. They issued a “neutral” rating and a $111.00 target price for the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 target price (up from $95.00) on shares of Hasbro in a research report on Tuesday, April 25th. Barclays PLC dropped their target price on Hasbro from $109.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 26th. BMO Capital Markets lifted their target price on Hasbro from $86.00 to $95.00 and gave the company a “market perform” rating in a research report on Wednesday, April 26th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $102.00 target price (up from $100.00) on shares of Hasbro in a research report on Wednesday, April 26th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $98.81.
Shares of Hasbro (NASDAQ:HAS) traded up 1.53% on Friday, reaching $101.05. 748,920 shares of the company’s stock traded hands. The firm has a market capitalization of $12.63 billion, a P/E ratio of 22.46 and a beta of 0.77. Hasbro has a 52 week low of $76.14 and a 52 week high of $104.14. The firm’s 50 day moving average is $98.76 and its 200 day moving average is $91.19.
Hasbro (NASDAQ:HAS) last released its earnings results on Monday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $849.70 million during the quarter, compared to the consensus estimate of $818.27 million. Hasbro had a return on equity of 33.18% and a net margin of 10.98%. Hasbro’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Analysts expect that Hasbro will post $4.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, July 28th. Hasbro’s dividend payout ratio is presently 47.00%.
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Institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its position in shares of Hasbro by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $100,000 after buying an additional 100 shares in the last quarter. Oakworth Capital Inc. increased its position in shares of Hasbro by 291.0% in the first quarter. Oakworth Capital Inc. now owns 1,126 shares of the company’s stock worth $113,000 after buying an additional 838 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Hasbro by 337.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,132 shares of the company’s stock worth $113,000 after buying an additional 873 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Hasbro during the first quarter worth approximately $119,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Hasbro during the first quarter worth approximately $131,000. 79.72% 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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