Hasbro (NASDAQ:HAS) Sees Large Volume Increase on Strong Earnings

Hasbro, Inc. (NASDAQ:HAS) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 2,216,573 shares changed hands during trading, an increase of 13% from the previous session’s volume of 1,964,532 shares.The stock last traded at $90.4580 and had previously closed at $81.59.

The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Monday, June 1st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.1%. Hasbro’s payout ratio is presently -168.67%.

Hasbro News Summary

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro beat second-quarter earnings expectations, reporting $1.28 EPS versus the $1.17 consensus, while revenue rose 16.2% year over year, signaling stronger-than-expected operating performance. Article Title
• Positive Sentiment: The company raised its full-year revenue and profit forecasts, which suggests management sees continued momentum in its core businesses and can help support a higher valuation. Article Title
• Positive Sentiment: Results were helped by strength in Wizards of the Coast and digital gaming, especially Magic: The Gathering, showing that Hasbro’s higher-margin franchises are still driving growth. Article Title
• Neutral Sentiment: Hasbro also reported a negative net margin, so investors may still want to watch whether improved sales translate into more durable profitability over time. Article Title
• Neutral Sentiment: While EPS was slightly below last year’s level, the market is likely focusing more on the beat-and-raise quarter than the modest year-over-year EPS decline. Article Title

Wall Street Analyst Weigh In

Several analysts have commented on HAS shares. Wells Fargo & Company lowered their price objective on shares of Hasbro from $92.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, June 9th. Zacks Research lowered Hasbro from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings lowered Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Wall Street Zen lowered Hasbro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Morgan Stanley upped their price target on Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.71.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Hasbro by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company’s stock worth $1,392,088,000 after acquiring an additional 453,038 shares in the last quarter. State Street Corp raised its position in shares of Hasbro by 2.1% in the 2nd quarter. State Street Corp now owns 6,508,052 shares of the company’s stock worth $480,424,000 after purchasing an additional 131,678 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Hasbro by 47.3% in the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after purchasing an additional 1,399,499 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hasbro by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock worth $299,700,000 after purchasing an additional 122,592 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Hasbro by 21.9% in the 3rd quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after purchasing an additional 651,790 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Stock Up 11.5%

The company’s 50-day moving average is $84.73 and its 200 day moving average is $90.24. The company has a market capitalization of $12.87 billion, a PE ratio of -54.67, a P/E/G ratio of 2.02 and a beta of 0.49. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.