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

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.

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

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given 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 presently -26.12%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HAS. Jefferies Financial Group boosted their price target on Hasbro from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, April 19th. TheStreet downgraded Hasbro from a “c-” rating to a “d+” rating in a report on Tuesday, February 13th. StockNews.com raised Hasbro from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Hasbro from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Roth Mkm boosted their target price on Hasbro from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Studio Investment Management LLC bought a new stake in shares of Hasbro in the third quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its holdings in shares of Hasbro by 300.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 544 shares of the company’s stock valued at $28,000 after purchasing an additional 408 shares in the last quarter. ING Groep NV bought a new stake in shares of Hasbro in the third quarter valued at about $29,000. Optiver Holding B.V. bought a new stake in shares of Hasbro in the fourth quarter valued at about $36,000. Finally, Orion Capital Management LLC bought a new stake in shares of Hasbro in the third quarter valued at about $37,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Trading Up 11.7 %

The company has a market capitalization of $9.01 billion, a P/E ratio of -6.09, a price-to-earnings-growth ratio of 0.97 and a beta of 0.74. The business has a fifty day moving average price of $53.64 and a 200 day moving average price of $50.95. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 2.73.

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.