Hasbro (NASDAQ:HAS) PT Raised to $59.00 at DA Davidson

Hasbro (NASDAQ:HAS) had its target price raised by DA Davidson from $52.00 to $59.00 in a research report released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock. DA Davidson also issued estimates for Hasbro’s Q2 2024 earnings at $0.75 EPS, FY2024 earnings at $3.79 EPS and FY2025 earnings at $4.20 EPS.

HAS has been the topic of several other research reports. Stifel Nicolaus increased their target price on Hasbro from $64.00 to $67.00 and gave the company a buy rating in a research note on Monday, April 15th. TheStreet lowered shares of Hasbro from a c- rating to a d+ rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Hasbro from $52.00 to $54.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Roth Mkm boosted their price target on shares of Hasbro from $65.00 to $75.00 and gave the company a buy rating in a report on Thursday, April 25th. Finally, Bank of America raised their price objective on Hasbro from $60.00 to $70.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Hasbro has an average rating of Hold and a consensus price target of $66.36.

Hasbro Stock Down 1.6 %

Shares of NASDAQ:HAS opened at $60.34 on Monday. The company has a 50 day moving average of $55.13 and a 200-day moving average of $51.24. Hasbro has a one year low of $42.66 and a one year high of $73.57. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of -5.95, a P/E/G ratio of 1.06 and a beta of 0.74. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93.

Hasbro (NASDAQ:HAS) last issued its earnings results on Wednesday, April 24th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.27 by $0.34. Hasbro had a negative net margin of 29.60% and a positive return on equity of 25.41%. The company had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $739.84 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. On average, sell-side analysts forecast that Hasbro will post 3.55 earnings per share for the current year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Tuesday, April 30th. Hasbro’s dividend payout ratio (DPR) is currently -27.61%.

Institutional Investors Weigh In On Hasbro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in Hasbro by 27.0% during the fourth quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock worth $785,367,000 after acquiring an additional 3,273,563 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Hasbro by 76.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,281,877 shares of the company’s stock worth $217,063,000 after purchasing an additional 1,423,517 shares in the last quarter. Norges Bank acquired a new stake in Hasbro during the fourth quarter worth approximately $70,544,000. Ameriprise Financial Inc. increased its position in shares of Hasbro by 176.0% in the third quarter. Ameriprise Financial Inc. now owns 1,311,754 shares of the company’s stock worth $86,763,000 after purchasing an additional 836,474 shares during the period. Finally, Cooke & Bieler LP increased its holdings in Hasbro by 31.6% in the 4th quarter. Cooke & Bieler LP now owns 3,188,417 shares of the company’s stock valued at $162,801,000 after buying an additional 765,898 shares during the period. 91.83% of the stock is owned by institutional investors.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.