Zacks Research Analysts Decrease Earnings Estimates for Hasbro, Inc. (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) – Equities researchers at Zacks Research dropped their Q3 2024 earnings estimates for shares of Hasbro in a note issued to investors on Tuesday, June 25th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $1.46 for the quarter, down from their previous estimate of $1.47. The consensus estimate for Hasbro’s current full-year earnings is $3.72 per share.

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

HAS has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Hasbro from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $61.00 to $74.00 in a research note on Thursday, May 23rd. Roth Mkm raised their price objective 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. DA Davidson raised their price objective on shares of Hasbro from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Bank of America upgraded shares of Hasbro from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $80.00 in a research report on Friday, June 14th. Finally, UBS Group lifted their target price on shares of Hasbro from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Hasbro currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Hasbro Stock Down 2.3 %

Shares of NASDAQ HAS opened at $58.03 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 2.88. Hasbro has a 52 week low of $42.66 and a 52 week high of $73.57. The firm has a 50-day moving average price of $60.23 and a 200 day moving average price of $54.62. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of -5.72, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65.

Insiders Place Their Bets

In other news, EVP Tarrant L. Sibley sold 13,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total value of $783,380.00. Following the completion of the transaction, the executive vice president now directly owns 53,003 shares in the company, valued at $3,193,960.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Institutional Trading of Hasbro

Institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC acquired a new stake in Hasbro in the third quarter valued at $26,000. Lindbrook Capital LLC raised its holdings in shares of Hasbro by 56.2% during the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after purchasing an additional 167 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Hasbro by 300.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 544 shares of the company’s stock worth $28,000 after purchasing an additional 408 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Hasbro during the third quarter worth $37,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Hasbro during the fourth quarter worth $36,000. 91.83% of the stock is owned by institutional investors and hedge funds.

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.