Wall Street brokerages expect Hasbro, Inc. (NASDAQ:HAS) to announce $1.72 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Hasbro’s earnings. The lowest sales estimate is $1.68 billion and the highest is $1.75 billion. Hasbro posted sales of $1.79 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The company is expected to announce its next quarterly earnings report on Monday, October 22nd.
According to Zacks, analysts expect that Hasbro will report full-year sales of $4.96 billion for the current fiscal year, with estimates ranging from $4.89 billion to $5.03 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.31 billion per share, with estimates ranging from $5.19 billion to $5.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Hasbro.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Monday, July 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.19. Hasbro had a net margin of 4.15% and a return on equity of 35.34%. The firm had revenue of $904.50 million for the quarter, compared to the consensus estimate of $839.29 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis.
HAS has been the topic of a number of recent analyst reports. SunTrust Banks increased their price target on shares of Hasbro to $108.00 and gave the stock a “hold” rating in a report on Tuesday, July 24th. Stifel Nicolaus upped their price objective on shares of Hasbro from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Tuesday, July 10th. BidaskClub upgraded shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 4th. Zacks Investment Research cut shares of Hasbro from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 24th. Finally, B. Riley upped their price objective on shares of Hasbro from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $107.59.
In other Hasbro news, CFO Deborah Thomas sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $100.63, for a total transaction of $1,006,300.00. Following the transaction, the chief financial officer now directly owns 84,568 shares in the company, valued at $8,510,077.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wiebe Tinga sold 20,674 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $101.24, for a total transaction of $2,093,035.76. Following the transaction, the executive vice president now owns 67,943 shares in the company, valued at $6,878,549.32. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Hasbro by 1.9% during the second quarter. BlackRock Inc. now owns 7,761,572 shares of the company’s stock valued at $716,472,000 after acquiring an additional 146,319 shares during the last quarter. Wells Fargo & Company MN grew its position in Hasbro by 2.8% during the first quarter. Wells Fargo & Company MN now owns 3,359,777 shares of the company’s stock valued at $283,231,000 after acquiring an additional 92,343 shares during the last quarter. Principal Financial Group Inc. grew its position in Hasbro by 1.9% during the first quarter. Principal Financial Group Inc. now owns 3,292,366 shares of the company’s stock valued at $277,546,000 after acquiring an additional 61,893 shares during the last quarter. Janus Henderson Group PLC grew its position in Hasbro by 30.1% during the second quarter. Janus Henderson Group PLC now owns 3,192,490 shares of the company’s stock valued at $294,698,000 after acquiring an additional 738,949 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Hasbro by 6.5% during the second quarter. Victory Capital Management Inc. now owns 2,590,981 shares of the company’s stock valued at $239,174,000 after acquiring an additional 158,764 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
Shares of Hasbro stock traded up $1.12 on Wednesday, reaching $99.65. The stock had a trading volume of 719,700 shares, compared to its average volume of 1,478,776. Hasbro has a 1 year low of $79.00 and a 1 year high of $107.58. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.77 and a beta of 0.91. The company has a current ratio of 2.69, a quick ratio of 2.11 and a debt-to-equity ratio of 0.96.
Hasbro declared that its board has authorized a stock buyback program on Thursday, May 17th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Wednesday, October 31st. Hasbro’s dividend payout ratio (DPR) is 46.15%.
Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.
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