Wall Street analysts expect that Hasbro (NASDAQ:HAS) will post $856.12 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Hasbro’s earnings. The highest sales estimate is $915.07 million and the lowest is $743.70 million. Hasbro posted sales of $972.51 million during the same quarter last year, which indicates a negative year over year growth rate of 12%. The business is expected to report its next quarterly earnings results on Monday, July 23rd.
On average, analysts expect that Hasbro will report full year sales of $4.94 billion for the current year, with estimates ranging from $4.76 billion to $5.10 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.27 billion per share, with estimates ranging from $5.05 billion to $5.56 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Hasbro.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Monday, April 23rd. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.21). Hasbro had a return on equity of 35.43% and a net margin of 4.25%. The business had revenue of $716.30 million for the quarter, compared to analyst estimates of $816.00 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. The company’s revenue was down 15.7% compared to the same quarter last year.
HAS has been the subject of a number of research reports. TheStreet lowered Hasbro from a “b-” rating to a “c+” rating in a research report on Friday, April 6th. Wells Fargo reiterated a “market perform” rating and set a $100.00 price target (up from $95.00) on shares of Hasbro in a report on Thursday, February 8th. BMO Capital Markets reduced their price target on Hasbro from $100.00 to $96.00 and set a “market perform” rating for the company in a report on Thursday, March 8th. They noted that the move was a valuation call. BidaskClub upgraded Hasbro from a “strong sell” rating to a “sell” rating in a report on Saturday, March 24th. Finally, Stifel Nicolaus reduced their price target on Hasbro from $98.00 to $93.00 and set a “hold” rating for the company in a report on Wednesday, April 4th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Hasbro has an average rating of “Hold” and a consensus price target of $102.07.
Shares of Hasbro opened at $88.71 on Friday, according to MarketBeat Ratings. Hasbro has a one year low of $79.00 and a one year high of $116.20. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.54 and a quick ratio of 2.94.
Hasbro announced that its board has authorized a stock buyback program on Thursday, May 17th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Wednesday, August 1st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, July 31st. This represents a $2.52 annualized dividend and a yield of 2.84%. Hasbro’s dividend payout ratio (DPR) is currently 46.15%.
In related news, CEO Brian Goldner sold 308,164 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $96.97, for a total value of $29,882,663.08. Following the completion of the sale, the chief executive officer now directly owns 101,134 shares in the company, valued at approximately $9,806,963.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas J. Jr. Courtney sold 8,884 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $97.51, for a total value of $866,278.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 394,435 shares of company stock valued at $38,337,975. Corporate insiders own 9.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New Mexico Educational Retirement Board increased its position in Hasbro by 4.8% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,959 shares of the company’s stock worth $996,000 after buying an additional 500 shares during the period. Raymond James Trust N.A. increased its position in Hasbro by 11.3% in the 4th quarter. Raymond James Trust N.A. now owns 5,361 shares of the company’s stock worth $488,000 after buying an additional 546 shares during the period. MML Investors Services LLC increased its position in Hasbro by 7.2% in the 4th quarter. MML Investors Services LLC now owns 8,496 shares of the company’s stock worth $772,000 after buying an additional 571 shares during the period. Norinchukin Bank The increased its position in Hasbro by 7.0% in the 4th quarter. Norinchukin Bank The now owns 9,063 shares of the company’s stock worth $824,000 after buying an additional 590 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in Hasbro by 12.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 5,916 shares of the company’s stock worth $499,000 after buying an additional 659 shares during the period. Hedge funds and other institutional investors own 80.79% of the company’s stock.
Hasbro Company Profile
Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.
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