Hasbro (NASDAQ:HAS) Price Target Lowered to $114.00 at Citigroup

Key Points

• Citigroup lowered Hasbro’s price target from $118 to $114 but kept a buy rating, implying about 28.7% upside from the current share price.
• Hasbro’s latest quarterly results beat expectations, with EPS of $1.47 versus $1.20 expected and revenue of $1.0 billion up 12.7% year over year, driven by Wizards of the Coast and digital gaming.
• Despite the strong quarter, shares fell because management did not raise full-year guidance, and investors were also weighing a cybersecurity-related delay and the cancellation of a Dungeons & Dragons game.

Hasbro (NASDAQ:HAS - Get Free Report) had its target price decreased by equities researchers at Citigroup from $118.00 to $114.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 28.70% from the stock's current price.

HAS has been the topic of several other reports. BNP Paribas Exane reduced their target price on Hasbro from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group raised their price target on Hasbro from $88.00 to $114.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. upped their price objective on shares of Hasbro from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. UBS Group lifted their target price on shares of Hasbro from $99.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Finally, Wall Street Zen lowered shares of Hasbro from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $113.64.

Hasbro Trading Down 0.0%

HAS traded down $0.02 during trading on Thursday, reaching $88.58. The company had a trading volume of 611,494 shares, compared to its average volume of 1,900,621. The business has a 50 day simple moving average of $93.33 and a 200-day simple moving average of $89.31. The stock has a market cap of $12.53 billion, a P/E ratio of -37.65, a PEG ratio of 2.84 and a beta of 0.52. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59. Hasbro has a 52 week low of $64.74 and a 52 week high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.27. Hasbro had a negative net margin of 4.62% and a positive return on equity of 172.27%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $969.20 million. During the same period in the prior year, the company posted $1.04 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Hasbro will post 5.8 EPS for the current fiscal year.

Insider Transactions at Hasbro

In related news, CEO Christian P. Cocks sold 196,411 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $100.33, for a total value of $19,705,915.63. Following the completion of the sale, the chief executive officer owned 303,310 shares of the company's stock, valued at approximately $30,431,092.30. The trade was a 39.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its stake in Hasbro by 10.2% during the 4th quarter. Huntington National Bank now owns 1,233 shares of the company's stock worth $101,000 after buying an additional 114 shares in the last quarter. Personal CFO Solutions LLC boosted its stake in shares of Hasbro by 3.9% in the fourth quarter. Personal CFO Solutions LLC now owns 3,666 shares of the company's stock worth $301,000 after acquiring an additional 137 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Hasbro by 6.4% in the fourth quarter. Signaturefd LLC now owns 2,268 shares of the company's stock worth $186,000 after acquiring an additional 137 shares during the last quarter. Severin Investments LLC raised its stake in Hasbro by 3.1% in the 1st quarter. Severin Investments LLC now owns 4,595 shares of the company's stock valued at $430,000 after purchasing an additional 137 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in Hasbro by 21.3% in the 1st quarter. Root Financial Partners LLC now owns 780 shares of the company's stock valued at $73,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Key Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro delivered a strong Q1 earnings beat, reporting EPS of $1.47 versus expectations of about $1.20, and revenue of $1.0 billion versus estimates of $969.2 million. Revenue rose 12.7% year over year, helped by strength in Wizards of the Coast and digital gaming, especially Magic: The Gathering. Reuters article
• Positive Sentiment: The company said digital games and Wizards drove the quarter, reinforcing that its higher-margin gaming segment remains a key growth engine for Hasbro. WSJ article
• Neutral Sentiment: Hasbro announced a quarterly dividend of $0.70 per share, which may support the stock for income-focused investors but is not the main driver of today’s trading. Business Wire article
• Negative Sentiment: Shares sold off because investors were disappointed that Hasbro maintained its full-year revenue growth outlook of 3%-5% and adjusted EBITDA guidance of $1.40 billion-$1.45 billion instead of raising it after the beat. Boston Globe article
• Negative Sentiment: Management also flagged a cybersecurity-related delay in Q2 and the cancellation of a Dungeons & Dragons game, adding to uncertainty around near-term growth and product pipeline execution. TipRanks article

About Hasbro

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.

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