Hasbro (NASDAQ:HAS) Issues Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Hasbro (NASDAQ:HAS) announced its quarterly earnings results on Thursday. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.44, Briefing.com reports. Hasbro had a negative net margin of 22.78% and a positive return on equity of 38.83%. The business had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $941.38 million. During the same quarter last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was down 17.7% compared to the same quarter last year.

Hasbro Stock Performance

Shares of HAS stock traded up $2.33 during trading hours on Friday, hitting $63.85. 2,088,409 shares of the company were exchanged, compared to its average volume of 1,678,242. The firm has a fifty day simple moving average of $59.50 and a 200 day simple moving average of $55.97. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 2.95. Hasbro has a 52-week low of $42.66 and a 52-week high of $73.57. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -6.30, a P/E/G ratio of 0.65 and a beta of 0.62.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $2.80 annualized dividend and a dividend yield of 4.39%. Hasbro’s payout ratio is currently -27.61%.

Insider Transactions at Hasbro

In other news, EVP Tarrant L. Sibley sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total transaction of $783,380.00. Following the completion of the sale, the executive vice president now owns 53,003 shares in the company, valued at approximately $3,193,960.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HAS shares. DA Davidson reaffirmed a “neutral” rating and issued a $59.00 price target on shares of Hasbro in a research report on Friday. JPMorgan Chase & Co. raised shares of Hasbro from a “neutral” rating to an “overweight” rating and raised their price target for the company from $61.00 to $74.00 in a research report on Thursday, May 23rd. Monness Crespi & Hardt lifted their target price on shares of Hasbro from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Morgan Stanley lifted their target price on shares of Hasbro from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus lifted their target price on shares of Hasbro from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.08.

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.