Hasbro (NASDAQ:HAS) Stock Price Up 9% Following Better-Than-Expected Earnings

Hasbro, Inc. (NASDAQ:HAS) shares were up 9% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $68.73 and last traded at $66.65. Approximately 1,131,658 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 1,315,244 shares. The stock had previously closed at $61.14.

The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.36 by $0.10. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.02 billion.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Monday, March 3rd will be given a $0.70 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.80 annualized dividend and a yield of 4.14%. Hasbro’s dividend payout ratio (DPR) is -60.34%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HAS shares. Roth Mkm upped their price target on shares of Hasbro from $68.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley restated an “overweight” rating and set a $84.00 price objective (down previously from $88.00) on shares of Hasbro in a research report on Friday. DA Davidson upped their price objective on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus cut their price objective on shares of Hasbro from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Insider Activity

In other news, EVP Matthew Edward Austin sold 1,718 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $65.06, for a total value of $111,773.08. Following the completion of the transaction, the executive vice president now owns 36,828 shares in the company, valued at $2,396,029.68. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Hasbro

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in Hasbro by 224.8% in the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock valued at $31,000 after acquiring an additional 299 shares during the last quarter. Raymond James & Associates grew its stake in Hasbro by 30.2% in the 3rd quarter. Raymond James & Associates now owns 180,127 shares of the company’s stock valued at $13,027,000 after acquiring an additional 41,829 shares during the last quarter. Signaturefd LLC grew its stake in Hasbro by 41.3% in the 3rd quarter. Signaturefd LLC now owns 2,708 shares of the company’s stock valued at $196,000 after acquiring an additional 791 shares during the last quarter. International Assets Investment Management LLC grew its stake in Hasbro by 7,141.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,629 shares of the company’s stock valued at $40,950,000 after acquiring an additional 55,847 shares during the last quarter. Finally, Tectonic Advisors LLC grew its stake in Hasbro by 14.1% in the 3rd quarter. Tectonic Advisors LLC now owns 100,691 shares of the company’s stock valued at $7,282,000 after acquiring an additional 12,419 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Stock Performance

The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of -14.56, a PEG ratio of 0.53 and a beta of 0.64. The stock’s 50 day moving average is $58.31 and its 200 day moving average is $64.17. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64.

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.