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

Hasbro, Inc. (NASDAQ:HAS) – Equities researchers at Roth Capital lowered their Q2 2024 earnings estimates for shares of Hasbro in a research note issued on Thursday, April 25th. Roth Capital analyst E. Handler now anticipates that the company will earn $0.61 per share for the quarter, down from their prior 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 issued its earnings results on Wednesday, April 24th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The business had revenue of $757.30 million for the quarter, compared to the consensus estimate of $739.84 million. Hasbro had a negative net margin of 29.60% and a positive return on equity of 25.41%. The company’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS.

A number of other equities analysts also recently commented on the stock. Monness Crespi & Hardt upped their target price on shares of Hasbro from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Hasbro from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Stifel Nicolaus upped their price target on shares of Hasbro from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Jefferies Financial Group upped their price target on shares of Hasbro from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com raised shares of Hasbro from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Hasbro presently has an average rating of “Hold” and an average target price of $66.36.

Hasbro Price Performance

Shares of HAS stock opened at $61.30 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 company 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. The company’s 50-day simple moving average is $54.93 and its two-hundred day simple moving average is $51.17. Hasbro has a one year low of $42.66 and a one year high of $73.57.

Hasbro Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.57%. Hasbro’s payout ratio is -27.61%.

Institutional Investors Weigh In On Hasbro

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Studio Investment Management LLC purchased a new position in shares of Hasbro in the third quarter worth $26,000. ING Groep NV purchased a new position in shares of Hasbro in the third quarter worth $29,000. Lindbrook Capital LLC raised its holdings in shares of Hasbro by 56.2% in the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Hasbro by 300.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 544 shares of the company’s stock worth $28,000 after buying an additional 408 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of Hasbro in the third quarter worth $37,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.