Hasbro (NASDAQ:HAS) Price Target Cut to $111.00 by Analysts at JPMorgan Chase & Co.

Hasbro (NASDAQ:HAS) had its price target decreased by JPMorgan Chase & Co. from $125.00 to $111.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on HAS. Morgan Stanley increased their target price on shares of Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Zacks Research cut shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. DA Davidson reduced their price objective on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday. Jefferies Financial Group dropped their target price on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings cut shares of Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hasbro currently has an average rating of “Moderate Buy” and a consensus price target of $108.36.

Hasbro Trading Up 0.3%

Shares of Hasbro stock opened at $89.04 on Wednesday. Hasbro has a 1 year low of $69.50 and a 1 year high of $106.98. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.49. The stock has a market cap of $12.60 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.19 and a beta of 0.49. The firm has a fifty day moving average price of $84.51 and a 200 day moving average price of $90.34.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. Equities research analysts predict that Hasbro will post 6.04 earnings per share for the current year.

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s payout ratio is -168.67%.

Institutional Investors Weigh In On Hasbro

A number of hedge funds have recently modified their holdings of HAS. Dorato Capital Management purchased a new stake in shares of Hasbro in the 4th quarter valued at approximately $1,804,000. Howard Capital Management Inc. acquired a new stake in shares of Hasbro during the 4th quarter worth approximately $964,000. OFI Invest Asset Management purchased a new stake in shares of Hasbro during the 4th quarter valued at approximately $9,758,000. Nomura Asset Management Co. Ltd. raised its position in shares of Hasbro by 734.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company’s stock valued at $2,770,000 after buying an additional 29,735 shares during the period. Finally, Oak Thistle LLC acquired a new position in Hasbro in the fourth quarter valued at approximately $1,140,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Key Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro reported Q2 earnings and revenue that beat Wall Street estimates, with sales up 16% year over year and management raising its full-year outlook for revenue, profit, margins, and EBITDA. Reuters article
• Positive Sentiment: Wizards of the Coast and digital gaming were the main growth drivers, with record Magic: The Gathering demand helping offset softer areas and signaling that Hasbro’s higher-margin franchise strategy is working. WSJ article
• Positive Sentiment: Several analysts reiterated bullish ratings after the quarter, and the company also announced a quarterly dividend, which can support investor confidence. TipRanks article
• Neutral Sentiment: Hasbro unveiled official Legend of Zelda toy figures tied to the franchise’s 40th anniversary, which adds a positive brand and licensing angle but is not yet a confirmed earnings driver. IGN article
• Negative Sentiment: Offsetting the upbeat earnings story, Hasbro disclosed a $56 million write-down tied to cancelling several video game projects, highlighting execution risk in its gaming pipeline. GameSpot article

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.