Q2 2024 Earnings Forecast for Hasbro, Inc. Issued By Zacks Research (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) – Equities research analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for shares of Hasbro in a research report issued on Tuesday, June 25th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.64 for the quarter, down from their prior estimate of $0.65. The consensus estimate for Hasbro’s current full-year earnings is $3.72 per share. Zacks Research also issued estimates for Hasbro’s FY2024 earnings at $3.59 EPS, FY2025 earnings at $3.95 EPS and FY2026 earnings at $4.30 EPS.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. The company 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 firm’s revenue was down 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share.

Other equities analysts also recently issued reports about the stock. DA Davidson increased their price objective on shares of Hasbro from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Monness Crespi & Hardt increased their price target on Hasbro from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised Hasbro from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $61.00 to $74.00 in a research report on Thursday, May 23rd. Morgan Stanley reissued an “overweight” rating and issued a $77.00 price objective on shares of Hasbro in a report on Monday, May 20th. Finally, Jefferies Financial Group boosted their target price on shares of Hasbro from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hasbro has an average rating of “Moderate Buy” and an average price target of $69.00.

Hasbro Stock Performance

Hasbro stock opened at $58.16 on Friday. 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 1-year low of $42.66 and a 1-year high of $73.57. The company has a fifty day simple moving average of $60.36 and a 200 day simple moving average of $54.67.

Institutional Trading of Hasbro

Several institutional investors have recently added to or reduced their stakes in HAS. Lindbrook Capital LLC boosted its position in shares of Hasbro by 56.2% in the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock valued at $26,000 after acquiring an additional 167 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Hasbro by 5.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,509 shares of the company’s stock worth $230,000 after purchasing an additional 215 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Hasbro by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 59,042 shares of the company’s stock worth $3,905,000 after purchasing an additional 220 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Hasbro by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 26,957 shares of the company’s stock valued at $1,524,000 after buying an additional 299 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Hasbro by 0.8% in the fourth quarter. Arizona State Retirement System now owns 36,225 shares of the company’s stock valued at $1,850,000 after buying an additional 300 shares during the period. 91.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Tarrant L. Sibley sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total value of $783,380.00. Following the transaction, the executive vice president now owns 53,003 shares in the company, valued at approximately $3,193,960.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.82% 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.