Hasbro (NASDAQ:HAS) Price Target Raised to $70.00

Hasbro (NASDAQ:HAS) had its target price hoisted by Bank of America from $60.00 to $70.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus raised 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 cut Hasbro from a c- rating to a d+ rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. raised their target price on Hasbro from $52.00 to $54.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Roth Mkm raised their target price on Hasbro from $65.00 to $75.00 and gave the company a buy rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Hasbro from a sell rating to a hold rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Hasbro currently has a consensus rating of Hold and a consensus price target of $65.73.

Hasbro Stock Performance

Hasbro stock opened at $64.47 on Thursday. The company has a market cap of $8.95 billion, a PE ratio of -6.36, a P/E/G ratio of 1.09 and a beta of 0.74. The company has a fifty day moving average price of $54.43 and a two-hundred day moving average price of $51.12. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.97. Hasbro has a 12 month low of $42.66 and a 12 month high of $73.57.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The firm had revenue of $757.30 million during the quarter, compared to the consensus estimate of $739.84 million. Hasbro had a negative net margin of 29.60% and a positive return on equity of 25.41%. The firm’s revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. Research analysts expect that Hasbro will post 3.39 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 dividend on an annualized basis and a yield of 4.34%. Hasbro’s dividend payout ratio is currently -27.61%.

Hedge Funds Weigh In On Hasbro

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Hasbro by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,752,627 shares of the company’s stock worth $1,041,879,000 after purchasing an additional 55,258 shares in the last quarter. Capital Research Global Investors grew its stake in Hasbro by 27.0% during the 4th quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock valued at $785,367,000 after acquiring an additional 3,273,563 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 valued at $217,063,000 after acquiring an additional 1,423,517 shares in the last quarter. Cooke & Bieler LP grew its stake in Hasbro by 31.6% during the 4th quarter. Cooke & Bieler LP now owns 3,188,417 shares of the company’s stock valued at $162,801,000 after acquiring an additional 765,898 shares in the last quarter. Finally, London Co. of Virginia grew its stake in Hasbro by 1.0% during the 3rd quarter. London Co. of Virginia now owns 2,225,403 shares of the company’s stock valued at $147,188,000 after acquiring an additional 21,634 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.