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, beating the consensus estimate of $0.27 by $0.34. Hasbro had a positive return on equity of 16.34% and a negative net margin of 29.77%. The company had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $739.84 million. During the same period last year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Tuesday, April 30th. Hasbro’s dividend payout ratio (DPR) is presently -26.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America raised their price objective on Hasbro from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Jefferies Financial Group lifted their price objective on Hasbro from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Roth Mkm lifted their price objective on Hasbro from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. lifted their price objective on Hasbro from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, StockNews.com raised Hasbro from a “sell” rating to a “hold” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.80.

Hedge Funds Weigh In On Hasbro

Several institutional investors have recently bought and sold shares of the stock. Studio Investment Management LLC bought a new position in shares of Hasbro in the third quarter worth about $26,000. Parkside Financial Bank & Trust increased its stake in shares of Hasbro by 300.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 544 shares of the company’s stock worth $28,000 after purchasing an additional 408 shares during the period. ING Groep NV bought a new position in shares of Hasbro in the third quarter worth about $29,000. Optiver Holding B.V. bought a new position in shares of Hasbro in the fourth quarter worth about $36,000. Finally, Orion Capital Management LLC bought a new position in shares of Hasbro in the third quarter worth about $37,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Up 11.7 %

The company has a debt-to-equity ratio of 2.73, a current ratio of 1.13 and a quick ratio of 0.97. The business has a 50 day moving average price of $53.64 and a 200 day moving average price of $50.95. The firm 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.

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.