Hasbro (NASDAQ:HAS) Posts Earnings Results, Beats Estimates By $0.11 EPS

Hasbro (NASDAQ:HAS) posted its quarterly earnings data on Tuesday. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11, Briefing.com reports. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $81.59 on Tuesday. The company has a market capitalization of $11.54 billion, a P/E ratio of -49.15, a P/E/G ratio of 2.02 and a beta of 0.49. Hasbro has a 1-year low of $69.50 and a 1-year high of $106.98. The firm’s 50 day simple moving average is $84.73 and its two-hundred day simple moving average is $90.24. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.65 and a quick ratio of 1.49.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Monday, June 1st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 3.4%. Hasbro’s payout ratio is currently -168.67%.

Institutional Trading of Hasbro

Several institutional investors and hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in Hasbro in the 4th quarter worth $27,000. CYBER HORNET ETFs LLC purchased a new stake in Hasbro in the 2nd quarter worth $25,000. MUFG Securities EMEA plc bought a new stake in Hasbro during the second quarter valued at about $28,000. Wexford Capital LP bought a new stake in Hasbro during the third quarter valued at about $37,000. Finally, NewEdge Advisors LLC lifted its position in shares of Hasbro by 36.7% in the second quarter. NewEdge Advisors LLC now owns 686 shares of the company’s stock valued at $51,000 after acquiring an additional 184 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors.

Hasbro News Roundup

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

Analysts Set New Price Targets

HAS has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on shares of Hasbro from $92.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 9th. Zacks Research downgraded shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Roth Capital reduced their price objective on Hasbro from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Finally, Morgan Stanley raised their target price on Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.71.

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.