Hasbro (NASDAQ:HAS) Shares Gap Down Following Weak Earnings

Hasbro, Inc. (NASDAQ:HAS)’s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $139.31, but opened at $120.16. Hasbro shares last traded at $100.02, with a volume of 6,941,453 shares trading hands.

The company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.34). The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.71 billion. Hasbro had a net margin of 6.69% and a return on equity of 30.92%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, October 31st. Hasbro’s payout ratio is currently 70.65%.

Several equities analysts recently commented on HAS shares. KeyCorp increased their price objective on shares of Hasbro from $115.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Argus raised shares of Hasbro from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, July 26th. UBS Group increased their price objective on shares of Hasbro from $96.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Co increased their price objective on shares of Hasbro from $95.00 to $111.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $127.00 price objective (up from $109.00) on shares of Hasbro in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $123.21.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Hasbro by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,129,588 shares of the company’s stock worth $1,493,216,000 after buying an additional 533,737 shares during the last quarter. BlackRock Inc. raised its position in Hasbro by 13.1% during the 2nd quarter. BlackRock Inc. now owns 9,553,688 shares of the company’s stock worth $1,009,635,000 after buying an additional 1,106,949 shares during the last quarter. Janus Henderson Group PLC raised its position in Hasbro by 3.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,397,826 shares of the company’s stock worth $359,079,000 after buying an additional 116,716 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hasbro by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 891,638 shares of the company’s stock worth $94,229,000 after buying an additional 32,620 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Hasbro by 20.6% during the 2nd quarter. California Public Employees Retirement System now owns 857,271 shares of the company’s stock worth $90,596,000 after buying an additional 146,149 shares during the last quarter. 86.35% of the stock is owned by institutional investors.

The company has a current ratio of 2.64, a quick ratio of 2.11 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $15.39 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. The business’s 50-day simple moving average is $117.60 and its 200-day simple moving average is $107.82.

About Hasbro (NASDAQ:HAS)

Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.

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