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

Hasbro, Inc. (NASDAQ:HAS) – Stock analysts at Roth Capital lowered their Q2 2024 earnings per share estimates for shares of Hasbro in a report issued on Thursday, April 25th. Roth Capital analyst E. Handler now expects that the company will earn $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.

Hasbro (NASDAQ:HAS) last released its 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. Hasbro had a positive return on equity of 25.41% and a negative net margin of 29.60%. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $739.84 million. During the same period in the prior year, the firm earned $0.01 EPS. The firm’s revenue was down 24.3% on a year-over-year basis.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group upped their price target on shares of Hasbro from $61.00 to $63.00 and gave the company a “buy” rating in a report on Friday, April 19th. Monness Crespi & Hardt upped their price target on shares of Hasbro from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 25th. DA Davidson upped their price target on shares of Hasbro from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Hasbro from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, Roth Mkm upped their price target on shares of Hasbro from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $66.36.

Hasbro Price Performance

NASDAQ HAS opened at $64.28 on Monday. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93. The stock’s fifty day moving average price is $54.70 and its 200 day moving average price is $51.13. Hasbro has a 1 year low of $42.66 and a 1 year high of $73.57. The company has a market cap of $8.92 billion, a price-to-earnings ratio of -6.34, a PEG ratio of 1.09 and a beta of 0.74.

Institutional Trading of Hasbro

A number of hedge funds and other institutional investors have recently made changes to their positions in HAS. Commonwealth Equity Services LLC boosted its position in shares of Hasbro by 77.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 48,657 shares of the company’s stock worth $2,750,000 after purchasing an additional 21,204 shares during the period. Greenleaf Trust purchased a new position in shares of Hasbro during the 1st quarter worth approximately $203,000. Principal Financial Group Inc. boosted its position in shares of Hasbro by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 149,136 shares of the company’s stock worth $8,429,000 after purchasing an additional 2,082 shares during the period. Cornerstone Investment Partners LLC boosted its position in shares of Hasbro by 1.3% during the 1st quarter. Cornerstone Investment Partners LLC now owns 613,745 shares of the company’s stock worth $34,689,000 after purchasing an additional 7,617 shares during the period. Finally, First National Trust Co boosted its position in Hasbro by 25.5% in the 1st quarter. First National Trust Co now owns 30,924 shares of the company’s stock valued at $1,748,000 after buying an additional 6,283 shares during the period. Institutional investors and hedge funds own 91.83% of the company’s stock.

Hasbro Dividend Announcement

The company 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. The ex-dividend date is Tuesday, April 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.36%. Hasbro’s dividend payout ratio is currently -27.61%.

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.