BidaskClub Lowers Hasbro (HAS) to Buy

BidaskClub cut shares of Hasbro (NASDAQ:HAS) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also issued reports on HAS. ValuEngine lowered Hasbro from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Hasbro from a strong sell rating to a hold rating in a research report on Monday, June 25th. Stifel Nicolaus upped their price target on Hasbro from $93.00 to $94.00 and gave the company a hold rating in a research report on Tuesday, July 10th. DA Davidson dropped their price target on Hasbro to $113.00 and set a buy rating on the stock in a research report on Tuesday, April 24th. Finally, BMO Capital Markets dropped their price target on Hasbro from $83.00 to $80.00 and set a market perform rating on the stock in a research report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $102.13.

HAS stock opened at $94.02 on Tuesday. The company has a current ratio of 3.54, a quick ratio of 2.94 and a debt-to-equity ratio of 1.08. The company has a market cap of $11.79 billion, a P/E ratio of 17.22, a PEG ratio of 1.70 and a beta of 0.87. Hasbro has a 12-month low of $79.00 and a 12-month high of $116.20.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Monday, April 23rd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The firm had revenue of $716.30 million for the quarter, compared to analyst estimates of $816.00 million. Hasbro had a net margin of 4.25% and a return on equity of 35.43%. The business’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. sell-side analysts expect that Hasbro will post 4.76 earnings per share for the current year.

Hasbro announced that its Board of Directors has authorized a stock buyback program on Thursday, May 17th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.68%. The ex-dividend date is Tuesday, July 31st. Hasbro’s dividend payout ratio is presently 46.15%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in shares of Hasbro by 30.7% in the first quarter. Victory Capital Management Inc. now owns 2,432,217 shares of the company’s stock worth $205,036,000 after purchasing an additional 571,984 shares in the last quarter. Chilton Investment Co. LLC grew its stake in shares of Hasbro by 227.1% in the first quarter. Chilton Investment Co. LLC now owns 708,442 shares of the company’s stock worth $59,722,000 after purchasing an additional 491,832 shares in the last quarter. Millennium Management LLC grew its stake in shares of Hasbro by 224.3% in the first quarter. Millennium Management LLC now owns 679,364 shares of the company’s stock worth $57,270,000 after purchasing an additional 469,859 shares in the last quarter. Boston Partners grew its stake in shares of Hasbro by 25.5% in the first quarter. Boston Partners now owns 1,812,041 shares of the company’s stock worth $152,755,000 after purchasing an additional 368,137 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Hasbro by 1,134.1% in the first quarter. Teacher Retirement System of Texas now owns 381,278 shares of the company’s stock worth $32,142,000 after purchasing an additional 350,384 shares in the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Company Profile

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.

Further Reading: Earnings Per Share (EPS) Explained

Analyst Recommendations for Hasbro (NASDAQ:HAS)

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