Zacks Investment Research Lowers Hasbro, Inc. (HAS) to Hold
Hasbro, Inc. (NASDAQ:HAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
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.”
HAS has been the subject of a number of other reports. Jefferies Group LLC set a $125.00 price objective on Hasbro and gave the stock a “buy” rating in a research report on Monday, August 21st. BidaskClub cut Hasbro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Argus started coverage on Hasbro in a research report on Friday, June 16th. They set a “buy” rating and a $128.00 price objective for the company. KeyCorp reaffirmed an “overweight” rating and set a $112.00 price objective on shares of Hasbro in a research report on Wednesday, August 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Hasbro in a research report on Tuesday, September 12th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $107.27.
Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Monday, July 24th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $972.51 million for 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 firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS.
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In related news, 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 directly owns 85,630 shares of the company’s stock, valued at $8,906,376.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Jr. Courtney sold 23,201 shares of Hasbro stock in a transaction on Thursday, July 27th. The stock was 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 directly owns 28,511 shares of the company’s stock, valued at $3,036,706.61. The disclosure for this sale can be found here. Insiders sold a total of 1,423,264 shares of company stock valued at $145,144,664 over the last three months. Insiders own 11.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC raised its holdings in Hasbro by 2.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,164 shares of the company’s stock worth $129,000 after purchasing an additional 32 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Hasbro during the first quarter worth $131,000. Oakworth Capital Inc. raised its holdings in Hasbro by 7.2% during the second quarter. Oakworth Capital Inc. now owns 1,207 shares of the company’s stock worth $135,000 after purchasing an additional 81 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new position in Hasbro during the second quarter worth $155,000. Finally, Van ECK Associates Corp raised its holdings in Hasbro by 7.0% during the first quarter. Van ECK Associates Corp now owns 1,656 shares of the company’s stock worth $165,000 after purchasing an additional 108 shares during the last quarter. 77.79% of the stock is owned by hedge funds and other institutional investors.
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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