DA Davidson Raises Hasbro (NASDAQ:HAS) Price Target to $59.00

Hasbro (NASDAQ:HAS) had its price target boosted by DA Davidson from $52.00 to $59.00 in a research report released on Monday, Benzinga reports. DA Davidson currently has a neutral rating on the stock. DA Davidson also issued estimates for Hasbro’s Q2 2024 earnings at $0.75 EPS, FY2024 earnings at $3.79 EPS and FY2025 earnings at $4.20 EPS.

HAS has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on Hasbro from $52.00 to $54.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. TheStreet downgraded Hasbro from a c- rating to a d+ rating in a report on Tuesday, February 13th. Stifel Nicolaus increased their target price on Hasbro from $64.00 to $67.00 and gave the company a buy rating in a research note on Monday, April 15th. Monness Crespi & Hardt lifted their price target on shares of Hasbro from $60.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group increased their price objective on shares of Hasbro from $61.00 to $63.00 and gave the company a buy rating in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $66.36.

Hasbro Stock Performance

Hasbro stock opened at $60.34 on Monday. 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 one year low of $42.66 and a one year high of $73.57. The stock’s 50 day moving average price is $55.13 and its 200 day moving average price is $51.24. The firm has a market capitalization of $8.37 billion, a PE ratio of -5.95, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74.

Hasbro (NASDAQ:HAS) last posted its earnings results on Wednesday, April 24th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The business had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $739.84 million. Hasbro had a negative net margin of 29.60% and a positive return on equity of 25.41%. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, sell-side analysts expect that Hasbro will post 3.55 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Tuesday, April 30th. Hasbro’s dividend payout ratio is presently -27.61%.

Hedge Funds Weigh In On Hasbro

A number of large investors have recently bought and sold shares of HAS. CWM LLC lifted its holdings in shares of Hasbro by 19.2% in the 3rd quarter. CWM LLC now owns 1,393 shares of the company’s stock worth $92,000 after purchasing an additional 224 shares during the last quarter. Czech National Bank boosted its holdings in shares of Hasbro by 47.8% during the third quarter. Czech National Bank now owns 22,794 shares of the company’s stock valued at $1,508,000 after acquiring an additional 7,370 shares during the period. Ballentine Partners LLC bought a new position in shares of Hasbro during the third quarter worth about $249,000. Commonwealth Equity Services LLC increased its holdings in shares of Hasbro by 7.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 26,840 shares of the company’s stock worth $1,775,000 after acquiring an additional 1,975 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Hasbro by 0.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 86,286 shares of the company’s stock valued at $5,707,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 91.83% of the company’s stock.

About Hasbro

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.