Hasbro (NASDAQ:HAS) Stock Rating Reaffirmed by DA Davidson

DA Davidson restated their neutral rating on shares of Hasbro (NASDAQ:HAS) in a research note published on Friday, Benzinga reports. They currently have a $59.00 target price on the stock. DA Davidson also issued estimates for Hasbro’s Q3 2024 earnings at $1.39 EPS.

HAS has been the topic of several other research reports. Roth Mkm upped their price target on shares of Hasbro from $65.00 to $75.00 and gave the company a buy rating in a report on Thursday, April 25th. Jefferies Financial Group upped 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. StockNews.com raised shares of Hasbro from a sell rating to a hold rating in a research note on Wednesday, April 24th. Bank of America raised shares of Hasbro from a neutral rating to a buy rating and upped their price objective for the company from $70.00 to $80.00 in a research note on Friday, June 14th. Finally, Stifel Nicolaus upped their price objective on shares of Hasbro from $64.00 to $67.00 and gave the company a buy rating in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $70.08.

Hasbro Stock Up 1.3 %

HAS stock opened at $64.70 on Friday. Hasbro has a 52 week low of $42.66 and a 52 week high of $73.57. The company has a market cap of $9.01 billion, a P/E ratio of -6.38, a P/E/G ratio of 0.50 and a beta of 0.62. The company has a current ratio of 1.46, a quick ratio of 1.27 and a debt-to-equity ratio of 2.95. The company’s 50-day moving average price is $59.55 and its 200 day moving average price is $56.12.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.44. Hasbro had a negative net margin of 22.78% and a positive return on equity of 38.83%. The company had revenue of $995.30 million for the quarter, compared to the consensus estimate of $941.38 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, research analysts expect that Hasbro will post 3.86 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Wednesday, August 21st. Hasbro’s payout ratio is currently -27.61%.

Insider Buying and Selling at Hasbro

In other Hasbro news, EVP Tarrant L. Sibley sold 13,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total transaction of $783,380.00. Following the completion of the transaction, the executive vice president now directly owns 53,003 shares of the company’s stock, valued at approximately $3,193,960.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Hasbro

Several hedge funds and other institutional investors have recently modified their holdings of HAS. Lindbrook Capital LLC raised its holdings in shares of Hasbro by 56.2% during the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Hasbro by 5.0% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,509 shares of the company’s stock worth $230,000 after acquiring an additional 215 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Hasbro by 0.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 32,400 shares of the company’s stock worth $1,895,000 after acquiring an additional 288 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Hasbro by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 26,957 shares of the company’s stock worth $1,524,000 after acquiring an additional 299 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Hasbro by 0.8% during the fourth quarter. Arizona State Retirement System now owns 36,225 shares of the company’s stock worth $1,850,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.