Hasbro, Inc. to Post Q2 2024 Earnings of $0.75 Per Share, DA Davidson Forecasts (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Hasbro in a research note issued on Monday, April 29th. DA Davidson analyst L. Weiser forecasts that the company will post earnings per share of $0.75 for the quarter. DA Davidson currently has a “Neutral” rating and a $59.00 target price on the stock. The consensus estimate for Hasbro’s current full-year earnings is $3.46 per share.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group increased their target price on shares of Hasbro from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Stifel Nicolaus lifted their target price on shares of Hasbro from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on Hasbro from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Bank of America lifted their price objective on Hasbro from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $66.36.

Hasbro Stock Performance

Hasbro stock opened at $64.28 on Tuesday. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $54.70 and a 200-day simple moving average of $51.13. Hasbro has a 1-year low of $42.66 and a 1-year high of $73.57.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Hasbro had a positive return on equity of 25.41% and a negative net margin of 29.60%. The company had revenue of $757.30 million for the quarter, compared to analyst estimates of $739.84 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis.

Hedge Funds Weigh In On Hasbro

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in Hasbro by 27.0% in the 4th quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock valued at $785,367,000 after buying an additional 3,273,563 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Hasbro by 76.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,281,877 shares of the company’s stock valued at $217,063,000 after purchasing an additional 1,423,517 shares in the last quarter. Norges Bank acquired a new stake in shares of Hasbro during the 4th quarter worth about $70,544,000. Ameriprise Financial Inc. grew its holdings in shares of Hasbro by 176.0% during the third quarter. Ameriprise Financial Inc. now owns 1,311,754 shares of the company’s stock worth $86,763,000 after buying an additional 836,474 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of Hasbro by 31.6% during the fourth quarter. Cooke & Bieler LP now owns 3,188,417 shares of the company’s stock worth $162,801,000 after buying an additional 765,898 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, April 30th. Hasbro’s dividend payout ratio is presently -27.61%.

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.