Hasbro, Inc. to Post Q2 2024 Earnings of $0.61 Per Share, Roth Capital Forecasts (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) – Investment analysts at Roth Capital dropped their Q2 2024 earnings per share estimates for Hasbro in a report released on Thursday, April 25th. Roth Capital analyst E. Handler now expects that the company will post earnings of $0.61 per share for the quarter, down from their previous forecast of $0.66. The consensus estimate for Hasbro’s current full-year earnings is $3.46 per share. Roth Capital also issued estimates for Hasbro’s Q3 2024 earnings at $1.29 EPS, Q4 2024 earnings at $1.03 EPS, FY2026 earnings at $5.04 EPS and FY2027 earnings at $5.73 EPS.

Several other research firms have also recently issued reports on HAS. Stifel Nicolaus upped their price target on Hasbro from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, April 15th. TheStreet cut Hasbro from a “c-” rating to a “d+” rating in a report on Tuesday, February 13th. Roth Mkm boosted their target price on shares of Hasbro from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Bank of America increased their target price on Hasbro from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, DA Davidson lifted their price target on Hasbro from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Monday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.36.

Hasbro Price Performance

NASDAQ HAS opened at $61.30 on Monday. The stock has a market capitalization of $8.51 billion, a P/E ratio of -6.05, a P/E/G ratio of 1.09 and a beta of 0.74. Hasbro has a 1 year low of $42.66 and a 1 year high of $73.57. The business’s fifty day moving average is $54.93 and its two-hundred day moving average is $51.17. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.93 and a current ratio of 1.11.

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

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, April 30th. Hasbro’s dividend payout ratio is currently -27.61%.

Hedge Funds Weigh In On Hasbro

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Hasbro by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,752,627 shares of the company’s stock valued at $1,041,879,000 after acquiring an additional 55,258 shares in the last quarter. Capital Research Global Investors boosted its holdings in Hasbro by 27.0% in the fourth quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock worth $785,367,000 after purchasing an additional 3,273,563 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Hasbro by 76.6% in the third quarter. Bank of New York Mellon Corp now owns 3,281,877 shares of the company’s stock worth $217,063,000 after purchasing an additional 1,423,517 shares in the last quarter. Cooke & Bieler LP boosted its holdings in Hasbro by 31.6% in the fourth quarter. Cooke & Bieler LP now owns 3,188,417 shares of the company’s stock worth $162,801,000 after purchasing an additional 765,898 shares in the last quarter. Finally, London Co. of Virginia boosted its holdings in Hasbro by 1.0% in the third quarter. London Co. of Virginia now owns 2,225,403 shares of the company’s stock worth $147,188,000 after purchasing an additional 21,634 shares in the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

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.