Hasbro, Inc. Expected to Post FY2024 Earnings of $3.79 Per Share (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) – Stock analysts at DA Davidson upped their FY2024 EPS estimates for shares of Hasbro in a research note issued on Monday, April 29th. DA Davidson analyst L. Weiser now expects that the company will earn $3.79 per share for the year, up from their previous forecast of $3.30. DA Davidson has a “Neutral” rating and a $59.00 price target on the stock. The consensus estimate for Hasbro’s current full-year earnings is $3.55 per share. DA Davidson also issued estimates for Hasbro’s FY2025 earnings at $4.20 EPS.

Hasbro (NASDAQ:HAS) last released its earnings results on Wednesday, April 24th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Hasbro had a negative net margin of 29.60% and a positive return on equity of 25.41%. The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $739.84 million. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue was down 24.3% compared to the same quarter last year.

Other analysts also recently issued reports about the stock. Monness Crespi & Hardt increased their price target on shares of Hasbro from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group increased their price target on shares of Hasbro from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Roth Mkm increased their target price on Hasbro from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TheStreet cut Hasbro from a “c-” rating to a “d+” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on Hasbro from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.36.

Hasbro Price Performance

Hasbro stock opened at $61.30 on Wednesday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.93 and a current ratio of 1.11. Hasbro has a 1 year low of $42.66 and a 1 year high of $73.57. The company’s 50-day moving average is $54.93 and its two-hundred day moving average is $51.17.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, April 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.57%. Hasbro’s payout ratio is -27.61%.

Hedge Funds Weigh In On Hasbro

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Hasbro by 78.3% during the first quarter. Van ECK Associates Corp now owns 46,135 shares of the company’s stock worth $2,608,000 after buying an additional 20,262 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Hasbro by 77.2% during the first quarter. Commonwealth Equity Services LLC now owns 48,657 shares of the company’s stock worth $2,750,000 after purchasing an additional 21,204 shares during the period. Greenleaf Trust bought a new position in Hasbro during the first quarter worth $203,000. Principal Financial Group Inc. boosted its position in Hasbro by 1.4% during the first quarter. Principal Financial Group Inc. now owns 149,136 shares of the company’s stock worth $8,429,000 after purchasing an additional 2,082 shares during the period. Finally, Cornerstone Investment Partners LLC boosted its position in Hasbro by 1.3% during the first quarter. Cornerstone Investment Partners LLC now owns 613,745 shares of the company’s stock worth $34,689,000 after purchasing an additional 7,617 shares during the period. 91.83% of the stock is currently owned by institutional investors and hedge funds.

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.