Hasbro, Inc. (HAS) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Hasbro, Inc. (NASDAQ:HAS) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Hasbro’s earnings have topped the Zacks Consensus Estimate in all the past 10 quarters. Revenues too have been surpassing the consensus mark, except for the last quarter. Consistent efforts to establish its global presence via strategic partnerships and rapid growth in emerging markets should continue driving the top- and bottom–line performance. However, Hasbro’s shares have underperformed its industry year to date. Even so, this year’s rich content slate, new product launches, diverse initiatives to boost sales along with a favorable gaming portfolio should further drive growth ahead. Going forward, the Franchise and Partner Brands, particularly, are expected to perform consistently in 2017 given global digital content and innovative offerings. Yet, increased competition from alternative modes of entertainment might limit top-line growth, while high costs along with macroeconomic and currency headwinds may pressurize profits.”
A number of other research analysts have also recently issued reports on the company. BidaskClub upgraded Hasbro from a buy rating to a strong-buy rating in a research note on Saturday, July 8th. Jefferies Group LLC reiterated a buy rating and set a $125.00 price objective on shares of Hasbro in a research note on Friday, July 21st. DA Davidson reiterated a buy rating and set a $121.00 price objective (up previously from $118.00) on shares of Hasbro in a research note on Saturday, July 22nd. Argus started coverage on Hasbro in a research note on Friday, June 16th. They set a buy rating and a $128.00 price objective for the company. Finally, KeyCorp reiterated an overweight rating and set a $112.00 price objective on shares of Hasbro in a research note on Wednesday, August 30th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Hasbro has an average rating of Hold and a consensus target price of $107.27.
Shares of Hasbro (HAS) opened at 94.99 on Tuesday. Hasbro has a 12-month low of $76.14 and a 12-month high of $116.20. The company has a market cap of $11.88 billion, a P/E ratio of 20.57 and a beta of 0.92. The stock’s 50 day moving average price is $97.19 and its 200 day moving average price is $102.08.
Hasbro (NASDAQ:HAS) last released its earnings results on Monday, July 24th. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. The company had revenue of $972.51 million during the quarter, compared to analysts’ expectations of $974.19 million. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. On average, analysts forecast that Hasbro will post $5.07 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, October 31st. Hasbro’s payout ratio is 49.35%.
In related news, President John Frascotti sold 23,000 shares of Hasbro stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $96.70, for a total value of $2,224,100.00. Following the completion of the sale, the president now owns 94,957 shares of the company’s stock, valued at $9,182,341.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan G. Hassenfeld sold 99,615 shares of Hasbro stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $97.39, for a total value of $9,701,504.85. Following the completion of the sale, the director now directly owns 29,140 shares of the company’s stock, valued at approximately $2,837,944.60. The disclosure for this sale can be found here. In the last three months, insiders sold 1,423,264 shares of company stock valued at $145,144,664. Corporate insiders own 11.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors grew its holdings in shares of Hasbro by 128.5% in the second quarter. Nationwide Fund Advisors now owns 217,000 shares of the company’s stock worth $24,198,000 after acquiring an additional 122,023 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Hasbro by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 652,418 shares of the company’s stock worth $65,125,000 after acquiring an additional 37,803 shares during the period. Prudential Financial Inc. grew its holdings in shares of Hasbro by 1.3% in the second quarter. Prudential Financial Inc. now owns 195,063 shares of the company’s stock worth $21,752,000 after acquiring an additional 2,500 shares during the period. James Investment Research Inc. bought a new stake in shares of Hasbro in the second quarter worth $1,441,000. Finally, American International Group Inc. grew its holdings in shares of Hasbro by 2.9% in the first quarter. American International Group Inc. now owns 200,480 shares of the company’s stock worth $20,012,000 after acquiring an additional 5,613 shares during the period. 77.79% of the stock is owned by institutional investors.
Hasbro Company Profile
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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