Hasbro (NASDAQ:HAS) Issues Quarterly Earnings Results

Hasbro (NASDAQ:HAS - Get Free Report) announced its earnings results on Wednesday. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.52, Zacks reports. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The company had revenue of $980.80 million for the quarter, compared to analysts' expectations of $891.82 million. During the same quarter in the previous year, the company posted $1.22 EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis.

Hasbro Stock Down 0.1%

Shares of HAS traded down $0.07 during mid-day trading on Friday, hitting $74.98. 2,541,981 shares of the company's stock were exchanged, compared to its average volume of 2,643,605. The company has a market cap of $10.51 billion, a price-to-earnings ratio of -18.47, a P/E/G ratio of 1.06 and a beta of 0.59. Hasbro has a fifty-two week low of $49.00 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.40 and a current ratio of 1.66. The stock's 50-day moving average is $71.42 and its 200-day moving average is $63.69.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.73%. Hasbro's dividend payout ratio is presently -68.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $85.00 in a research note on Monday, June 30th. JPMorgan Chase & Co. boosted their price target on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday. Monness Crespi & Hardt boosted their price target on shares of Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Citigroup boosted their price target on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $86.27.

Institutional Trading of Hasbro

Several hedge funds have recently made changes to their positions in the business. Focus Partners Wealth acquired a new stake in Hasbro in the first quarter valued at approximately $292,000. Brighton Jones LLC acquired a new stake in Hasbro in the fourth quarter valued at approximately $317,000. Woodline Partners LP raised its holdings in Hasbro by 40.7% in the first quarter. Woodline Partners LP now owns 11,078 shares of the company's stock valued at $681,000 after acquiring an additional 3,203 shares in the last quarter. Empowered Funds LLC raised its holdings in Hasbro by 95.8% in the first quarter. Empowered Funds LLC now owns 13,187 shares of the company's stock valued at $811,000 after acquiring an additional 6,451 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hasbro by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock valued at $1,018,000 after acquiring an additional 1,753 shares in the last quarter. Institutional investors and hedge funds 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.