Hasbro (NASDAQ:HAS) Sets New 1-Year High on Analyst Upgrade

Hasbro, Inc. (NASDAQ:HAS)’s stock price hit a new 52-week high during trading on Monday after Bank of America raised their price target on the stock from $85.00 to $90.00. Bank of America currently has a buy rating on the stock. Hasbro traded as high as $70.86 and last traded at $70.45, with a volume of 158411 shares traded. The stock had previously closed at $68.73.

A number of other analysts have also weighed in on HAS. UBS Group increased their price objective on Hasbro from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $61.00 to $74.00 in a report on Thursday, May 23rd. Morgan Stanley boosted their target price on Hasbro from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Hasbro from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $59.00 price objective on shares of Hasbro in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and an average target price of $70.55.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HAS. Sanctuary Advisors LLC bought a new position in Hasbro during the 2nd quarter valued at about $604,000. Quarry LP bought a new position in Hasbro during the second quarter valued at approximately $79,000. Algert Global LLC bought a new stake in Hasbro in the 2nd quarter worth approximately $2,802,000. Beaird Harris Wealth Management LLC purchased a new stake in Hasbro during the 2nd quarter valued at $129,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Hasbro during the 2nd quarter valued at $713,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Stock Up 2.6 %

The company has a fifty day moving average of $64.18 and a 200 day moving average of $60.06. The company has a quick ratio of 1.27, a current ratio of 1.46 and a debt-to-equity ratio of 2.95. The company has a market cap of $9.83 billion, a P/E ratio of -6.95, a price-to-earnings-growth ratio of 0.52 and a beta of 0.61.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.44. The firm had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $941.38 million. Hasbro had a negative net margin of 22.78% and a positive return on equity of 38.83%. The business’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. On average, research analysts anticipate that Hasbro, Inc. will post 3.93 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $2.80 annualized dividend and a dividend yield of 3.97%. Hasbro’s dividend payout ratio (DPR) is -27.61%.

Hasbro Company Profile

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.