Hasbro (NASDAQ:HAS) Shares Gap Up After Earnings Beat

Shares of Hasbro, Inc. (NASDAQ:HAS) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $58.14, but opened at $63.50. Hasbro shares last traded at $64.96, with a volume of 1,774,788 shares traded.

The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $739.84 million. Hasbro had a positive return on equity of 16.34% and a negative net margin of 29.77%. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.70 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.31%. Hasbro’s dividend payout ratio (DPR) is currently -26.12%.

Analyst Upgrades and Downgrades

HAS has been the topic of several analyst reports. Bank of America lifted their target price on Hasbro from $51.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Stifel Nicolaus lifted 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. StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded Hasbro from a “c-” rating to a “d+” rating in a research note on Tuesday, February 13th. Finally, Jefferies Financial Group lifted their target price on Hasbro from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Hasbro has a consensus rating of “Hold” and a consensus price target of $62.80.

Institutional Trading of Hasbro

A number of institutional investors have recently bought and sold shares of HAS. CWM LLC boosted its position in Hasbro by 19.2% during the third quarter. CWM LLC now owns 1,393 shares of the company’s stock worth $92,000 after purchasing an additional 224 shares in the last quarter. Oak Thistle LLC purchased a new stake in Hasbro during the third quarter worth $734,000. Czech National Bank lifted its position in shares of Hasbro by 47.8% in the third quarter. Czech National Bank now owns 22,794 shares of the company’s stock valued at $1,508,000 after acquiring an additional 7,370 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Hasbro in the third quarter valued at $249,000. Finally, HGK Asset Management Inc. purchased a new stake in shares of Hasbro in the third quarter valued at $281,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Price Performance

The company has a debt-to-equity ratio of 2.73, a current ratio of 1.13 and a quick ratio of 0.97. The company has a 50-day moving average price of $53.88 and a 200-day moving average price of $51.05. The firm has a market capitalization of $9.03 billion, a PE ratio of -6.07, a P/E/G ratio of 0.97 and a beta of 0.74.

Hasbro Company Profile

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.