Hasbro, Inc. (HAS) Cut 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 research note issued on Friday.
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. However, Hasbro’s shares underperformed the industry year to date. 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. 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.”
HAS has been the subject of several other reports. DA Davidson restated a “buy” rating and set a $121.00 target price (up from $118.00) on shares of Hasbro in a research report on Saturday, July 22nd. Jefferies Group LLC restated a “buy” rating and set a $125.00 target price on shares of Hasbro in a research report on Friday, July 21st. BidaskClub upgraded shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Stifel Nicolaus restated a “hold” rating and set a $107.00 target price (up from $100.00) on shares of Hasbro in a research report on Thursday, July 13th. Finally, Argus initiated coverage on shares of Hasbro in a research report on Friday, June 16th. They set a “buy” rating and a $128.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Hasbro currently has a consensus rating of “Hold” and a consensus target price of $106.04.
Hasbro (HAS) traded up 1.37% on Friday, reaching $93.94. 639,297 shares of the company traded hands. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 20.35 and a beta of 0.92. The stock’s 50-day moving average is $100.27 and its 200-day moving average is $102.22. Hasbro has a 1-year low of $76.14 and a 1-year high of $116.20.
Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Monday, July 24th. The company reported $0.53 earnings per share 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 during the quarter, compared to analysts’ expectations of $974.19 million. During the same period in the previous year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Hasbro will post $5.07 EPS for the current year.
In related news, Director Alan G. Hassenfeld sold 280,906 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $105.68, for a total transaction of $29,686,146.08. Following the completion of the transaction, the director now owns 29,140 shares in the company, valued at $3,079,515.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen J. Davis sold 1,500 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $97.57, for a total transaction of $146,355.00. Following the transaction, the executive vice president now owns 39,125 shares of the company’s stock, valued at approximately $3,817,426.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,423,264 shares of company stock valued at $145,144,664. Company insiders own 11.00% of the company’s stock.
Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Hasbro by 6.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 652,418 shares of the company’s stock worth $65,125,000 after acquiring an additional 37,803 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Hasbro by 55.9% during the first quarter. Toronto Dominion Bank now owns 30,192 shares of the company’s stock worth $3,013,000 after acquiring an additional 10,821 shares during the last quarter. Swiss National Bank boosted its position in shares of Hasbro by 28.1% during the first quarter. Swiss National Bank now owns 397,946 shares of the company’s stock worth $39,723,000 after acquiring an additional 87,300 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Hasbro during the second quarter worth $1,441,000. Finally, Prudential Financial Inc. boosted its position in shares of Hasbro by 1.3% during the second quarter. Prudential Financial Inc. now owns 195,063 shares of the company’s stock worth $21,752,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.
Hasbro Company Profile
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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