Hasbro (NASDAQ:HAS) Shares Gap Up After Earnings Beat

Hasbro, Inc. (NASDAQ:HAS) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $58.14, but opened at $63.50. Hasbro shares last traded at $64.96, with a volume of 1,774,788 shares changing hands.

The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.34. The company had revenue of $757.30 million during the quarter, compared to analyst estimates of $739.84 million. Hasbro had a negative net margin of 29.77% and a positive return on equity of 16.34%. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Tuesday, April 30th. Hasbro’s dividend payout ratio (DPR) is currently -26.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Hasbro from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, April 15th. Roth Mkm increased their price objective on shares of Hasbro from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com raised shares of Hasbro from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Hasbro in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.80.

Institutional Trading of Hasbro

A number of institutional investors have recently bought and sold shares of HAS. Studio Investment Management LLC bought a new stake in Hasbro in the third quarter worth $26,000. Parkside Financial Bank & Trust lifted its position in Hasbro by 300.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 544 shares of the company’s stock worth $28,000 after buying an additional 408 shares during the last quarter. ING Groep NV bought a new stake in Hasbro in the third quarter worth $29,000. Optiver Holding B.V. bought a new stake in Hasbro in the fourth quarter worth $36,000. Finally, Orion Capital Management LLC bought a new stake in shares of Hasbro during the third quarter worth $37,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Performance

The firm has a market capitalization of $9.03 billion, a P/E ratio of -6.07, a P/E/G ratio of 0.97 and a beta of 0.74. The firm has a 50-day moving average price of $53.88 and a two-hundred day moving average price of $51.05. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.13 and a quick ratio of 0.97.

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.