Hasbro (NASDAQ:HAS) Price Target Raised to $60.00

Hasbro (NASDAQ:HAS) had its price target hoisted by Bank of America from $51.00 to $60.00 in a research report report published on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other equities analysts have also commented on HAS. JPMorgan Chase & Co. lifted their price objective on Hasbro from $52.00 to $54.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Jefferies Financial Group lifted their price objective on Hasbro from $58.00 to $61.00 and gave the stock a buy rating in a research note on Friday, March 15th. Roth Mkm lifted their price objective on Hasbro from $60.00 to $65.00 and gave the stock a buy rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price objective on Hasbro from $64.00 to $67.00 and gave the stock a buy rating in a research note on Monday, April 15th. Finally, TheStreet lowered Hasbro from a c- rating to a d+ rating in a research note on Tuesday, February 13th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hasbro has an average rating of Hold and a consensus price target of $62.80.

Hasbro Price Performance

NASDAQ HAS opened at $55.27 on Thursday. Hasbro has a fifty-two week low of $42.66 and a fifty-two week high of $73.57. The stock’s 50-day moving average is $53.39 and its two-hundred day moving average is $51.06. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.13 and a quick ratio of 0.97. The firm has a market cap of $7.67 billion, a P/E ratio of -5.16, a price-to-earnings-growth ratio of 1.45 and a beta of 0.74.

Hasbro (NASDAQ:HAS) last posted its earnings results on Tuesday, February 13th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.26). Hasbro had a negative net margin of 29.77% and a positive return on equity of 16.34%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business earned $1.31 earnings per share. Hasbro’s quarterly revenue was down 23.2% on a year-over-year basis. On average, analysts anticipate that Hasbro will post 3.26 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Tuesday, April 30th. Hasbro’s dividend payout ratio (DPR) is presently -26.12%.

Institutional Investors Weigh In On Hasbro

Institutional investors have recently added to or reduced their stakes in the stock. Worth Asset Management LLC acquired a new stake in Hasbro during the first quarter valued at approximately $27,000. Carolinas Wealth Consulting LLC boosted its holdings in Hasbro by 60.9% during the first quarter. Carolinas Wealth Consulting LLC now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Power Corp of Canada acquired a new stake in Hasbro during the first quarter valued at approximately $29,000. Studio Investment Management LLC acquired a new stake in Hasbro during the third quarter valued at approximately $26,000. Finally, ING Groep NV acquired a new stake in Hasbro during the third quarter valued at approximately $29,000. 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.