Hasbro (NASDAQ:HAS) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Hasbro (NASDAQ:HAS) issued its earnings results on Wednesday. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.30, FiscalAI reports. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $964.39 million. Hasbro had a negative net margin of 6.86% and a positive return on equity of 127.21%.

Hasbro Stock Down 0.5%

HAS stock traded down $0.49 during mid-day trading on Wednesday, hitting $94.01. 1,236,652 shares of the company were exchanged, compared to its average volume of 1,808,065. The company has a debt-to-equity ratio of 4.89, a quick ratio of 1.24 and a current ratio of 1.38. The firm has a market cap of $13.31 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.79 and a beta of 0.52. The firm’s 50 day simple moving average is $93.53 and its 200 day simple moving average is $88.73. Hasbro has a 1-year low of $64.74 and a 1-year high of $106.98.

Insider Activity at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 7,773 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $103.00, for a total transaction of $800,619.00. Following the sale, the insider directly owned 36,528 shares in the company, valued at approximately $3,762,384. This trade represents a 17.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Gina M. Goetter sold 12,429 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $103.46, for a total transaction of $1,285,904.34. Following the sale, the chief financial officer owned 68,221 shares in the company, valued at $7,058,144.66. This trade represents a 15.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 413,342 shares of company stock valued at $42,241,679. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of Hasbro

Several hedge funds have recently bought and sold shares of HAS. CYBER HORNET ETFs LLC acquired a new stake in Hasbro during the 2nd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Hasbro during the 4th quarter worth approximately $27,000. MUFG Securities EMEA plc acquired a new stake in Hasbro during the 2nd quarter worth approximately $28,000. Wexford Capital LP acquired a new stake in shares of Hasbro in the third quarter valued at approximately $37,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Hasbro by 36.7% in the second quarter. NewEdge Advisors LLC now owns 686 shares of the company’s stock valued at $51,000 after purchasing an additional 184 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HAS. Morgan Stanley raised their target price on shares of Hasbro from $119.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Weiss Ratings lowered shares of Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group lifted their price objective on shares of Hasbro from $88.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. UBS Group lifted their price objective on shares of Hasbro from $99.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen raised shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Hasbro presently has a consensus rating of “Moderate Buy” and an average price target of $113.07.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.