Published On: Mon, Sep 19th, 2016

Hasbro Inc. (HAS) Upgraded by Zacks Investment Research to Buy

Hasbro Inc. (NASDAQ:HAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $87.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.59% from the company’s previous close.
According to Zacks, “Hasbro’s earnings and revenues have topped the Zacks Consensus Estimate in all the trailing-six quarters despite currency headwinds. The company’s efforts to establish its global presence through strategic partnerships and rapid growth in emerging markets has been driving top-and bottom line performance. Also, various sales boosting and cost saving initiatives along with regular share buybacks and dividend payments bode well. Estimates too have been stable lately ahead of Hasbro’s third quarter earnings release. Notably, the Boys segment has been posting sales growth since the start of 2014. Meanwhile, though the Girls segment marked a turnaround in the first half of 2016 after a dreadful 2015, it remains to be seen if it can sustain its performance. Also, lack of growth at some of Hasbro’s brands is a concern. Further, an increase in costs related to initiatives undertaken to boost business is likely to pressurize profits.”
Other analysts also recently issued reports about the company. Piper Jaffray Cos. raised Hasbro from a “neutral” rating to an “overweight” rating and set a $88.00 price target for the company in a report on Tuesday, July 19th. They noted that the move was a valuation call. Vetr raised Hasbro from a “hold” rating to a “buy” rating and set a $85.90 price target for the company in a report on Monday, September 12th. Barclays PLC decreased their price target on Hasbro from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, July 19th. MKM Partners reaffirmed a “hold” rating and set a $84.00 price target on shares of Hasbro in a report on Tuesday, July 12th. Finally, Jefferies Group lifted their price target on Hasbro from $80.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, July 13th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Hasbro currently has an average rating of “Hold” and a consensus price target of $86.41.

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Shares of Hasbro (NASDAQ:HAS) opened at 77.27 on Monday. The company’s 50-day moving average price is $81.29 and its 200 day moving average price is $82.55. Hasbro has a 12-month low of $64.91 and a 12-month high of $88.53. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 20.25 and a beta of 1.11.
Hasbro (NASDAQ:HAS) last released its earnings results on Monday, July 18th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The firm earned $878.90 million during the quarter, compared to analyst estimates of $858.97 million. Hasbro had a return on equity of 29.71% and a net margin of 10.42%. Hasbro’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. On average, equities research analysts forecast that Hasbro will post $4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, October 28th. Hasbro’s payout ratio is 53.40%.
A number of institutional investors have recently added to or reduced their stakes in HAS. Norges Bank acquired a new position in Hasbro during the fourth quarter valued at about $76,832,000. Chevy Chase Trust Holdings Inc. boosted its position in Hasbro by 4.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 95,478 shares of the company’s stock valued at $7,647,000 after buying an additional 4,313 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Hasbro by 13.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,752 shares of the company’s stock valued at $2,063,000 after buying an additional 3,116 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in Hasbro by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 27,346 shares of the company’s stock valued at $2,190,000 after buying an additional 2,206 shares during the last quarter. Finally, Coastline Trust Co boosted its position in Hasbro by 19.9% in the first quarter. Coastline Trust Co now owns 4,305 shares of the company’s stock valued at $345,000 after buying an additional 715 shares during the last quarter. Institutional investors own 76.80% of the company’s stock.
About Hasbro
Hasbro, Inc (Hasbro) is a branded-play company. The Company’s operating segments include the U.S. and Canada segment, the International segment, the Entertainment and Licensing segment, and Global Operations segment. The U.S. and Canada segment is engaged in the marketing and sale of its products in the United States.

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