Hasbro Inc. (HAS) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Hasbro Inc. (NASDAQ:HAS) from a hold rating to a buy rating in a research report released on Monday morning. Zacks Investment Research currently has $87.00 price target on the stock.
According to Zacks, “Hasbro’s earnings and revenues have topped the Zacks Consensus Estimate in all the trailing-six quarters despite currency headwinds. The company’s efforts to establish its global presence through strategic partnerships and rapid growth in emerging markets has been driving top-and bottom line performance. Also, various sales boosting and cost saving initiatives along with regular share buybacks and dividend payments bode well. Estimates too have been stable lately ahead of Hasbro’s third quarter earnings release. Notably, the Boys segment has been posting sales growth since the start of 2014. Meanwhile, though the Girls segment marked a turnaround in the first half of 2016 after a dreadful 2015, it remains to be seen if it can sustain its performance. Also, lack of growth at some of Hasbro’s brands is a concern. Further, an increase in costs related to initiatives undertaken to boost business is likely to pressurize profits.”
A number of other brokerages have also commented on HAS. Piper Jaffray Cos. lowered Hasbro from an overweight rating to a neutral rating and set a $88.00 price objective for the company. in a research report on Thursday, May 26th. They noted that the move was a valuation call. Citigroup Inc. lifted their price objective on Hasbro from $85.00 to $98.00 and gave the stock a buy rating in a research report on Monday, June 6th. Jefferies Group lifted their price objective on Hasbro from $80.00 to $82.00 and gave the stock a hold rating in a research report on Wednesday, July 13th. Vetr lowered Hasbro from a buy rating to a hold rating and set a $85.90 price objective for the company. in a research report on Monday, September 5th. Finally, MKM Partners reiterated a hold rating and issued a $84.00 price objective on shares of Hasbro in a research report on Tuesday, July 12th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Hasbro presently has a consensus rating of Hold and an average price target of $86.41.
Hasbro (NASDAQ:HAS) opened at 77.75 on Monday. Hasbro has a 52-week low of $64.91 and a 52-week high of $88.53. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 20.37 and a beta of 1.11. The stock’s 50 day moving average is $80.89 and its 200 day moving average is $82.55.
Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Monday, July 18th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. Hasbro had a return on equity of 29.71% and a net margin of 10.42%. The business earned $878.90 million during the quarter, compared to analysts’ expectations of $858.97 million. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Hasbro will post $4.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be given a $0.51 dividend. The ex-dividend date is Friday, October 28th. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. Hasbro’s dividend payout ratio is presently 53.40%.
Several institutional investors have recently modified their holdings of HAS. Tower Research Capital LLC TRC purchased a new stake in Hasbro during the second quarter valued at approximately $115,000. Mizuho Asset Management Co. Ltd. boosted its stake in Hasbro by 77.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,476 shares of the company’s stock valued at $124,000 after buying an additional 645 shares during the last quarter. Global X Management Co. LLC boosted its stake in Hasbro by 380.0% in the second quarter. Global X Management Co. LLC now owns 1,560 shares of the company’s stock valued at $131,000 after buying an additional 1,235 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Hasbro by 21.6% in the second quarter. Pacer Advisors Inc. now owns 2,057 shares of the company’s stock valued at $173,000 after buying an additional 366 shares during the last quarter. Finally, National Asset Management Inc. purchased a new stake in Hasbro during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 76.80% of the company’s stock.
Hasbro Company Profile
Hasbro, Inc (Hasbro) is a branded-play company. The Company’s operating segments include the U.S. and Canada segment, the International segment, the Entertainment and Licensing segment, and Global Operations segment. The U.S. and Canada segment is engaged in the marketing and sale of its products in the United States.
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