Hasbro, Inc. (HAS) Rating Lowered to Hold at Zacks Investment Research
Hasbro, Inc. (NASDAQ:HAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Hasbro’s second-quarter 2017 adjusted earnings of $0.53 per share surpassed the Zacks Consensus Estimate by 15.2% and surged 29.3% year over year. Meanwhile, revenues of $972.5 million rose 11% year over year but slightly lagged the consensus mark. The company’s revenues projected improvement in three out of its four brand portfolio categories. However, Hasbro’s shares have underperformed the industry year to date. Nonetheless, consistent efforts to establish its presence worldwide through strategic partnerships and rapid expansion in emerging markets bode well. In fact, we believe that this year’s rich content slate, supreme gaming portfolio and diverse new initiatives should further drive growth. Yet, increased competition from alternative modes of entertainment might limit top-line growth, while high costs along with macroeconomic and currency headwinds may hurt profits.”
HAS has been the subject of several other reports. BidaskClub upgraded Hasbro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Stifel Nicolaus restated a “hold” rating and set a $107.00 target price (up from $100.00) on shares of Hasbro in a research note on Thursday, July 13th. DA Davidson restated a “buy” rating and set a $121.00 target price (up from $118.00) on shares of Hasbro in a research note on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Hasbro in a research report on Friday, July 21st. Finally, BMO Capital Markets increased their price target on shares of Hasbro from $86.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 26th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $106.69.
Shares of Hasbro (HAS) opened at 98.33 on Wednesday. The stock has a market capitalization of $12.30 billion, a P/E ratio of 21.30 and a beta of 0.90. The firm’s 50-day moving average price is $107.78 and its 200-day moving average price is $101.91. Hasbro has a one year low of $76.14 and a one year high of $116.20.
Hasbro (NASDAQ:HAS) last announced its earnings results on Monday, July 24th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $972.51 million during the quarter, compared to the consensus estimate of $974.19 million. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Equities research analysts anticipate that Hasbro will post $5.07 EPS for the current fiscal year.
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In related news, EVP Thomas J. Jr. Courtney sold 23,201 shares of Hasbro stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $106.51, for a total value of $2,471,138.51. Following the transaction, the executive vice president now owns 28,511 shares in the company, valued at approximately $3,036,706.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wiebe Tinga sold 25,000 shares of Hasbro stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $104.01, for a total transaction of $2,600,250.00. Following the completion of the transaction, the executive vice president now owns 85,630 shares in the company, valued at approximately $8,906,376.30. The disclosure for this sale can be found here. Insiders have sold a total of 967,258 shares of company stock valued at $101,532,888 in the last three months. Company insiders own 11.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Hasbro by 5.7% in the second quarter. Vanguard Group Inc. now owns 12,882,037 shares of the company’s stock valued at $1,436,475,000 after buying an additional 695,231 shares during the last quarter. BlackRock Inc. increased its position in Hasbro by 7.6% in the second quarter. BlackRock Inc. now owns 9,880,626 shares of the company’s stock valued at $1,101,787,000 after buying an additional 700,898 shares during the last quarter. Bank of America Corp DE increased its position in Hasbro by 2.4% in the first quarter. Bank of America Corp DE now owns 5,474,161 shares of the company’s stock valued at $546,431,000 after buying an additional 127,849 shares during the last quarter. State Street Corp increased its position in Hasbro by 1.0% in the first quarter. State Street Corp now owns 5,013,445 shares of the company’s stock valued at $500,457,000 after buying an additional 49,888 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Hasbro by 1.0% in the second quarter. Wells Fargo & Company MN now owns 2,767,920 shares of the company’s stock valued at $308,649,000 after buying an additional 26,350 shares during the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.
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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