Zacks: Analysts Anticipate Hasbro, Inc. (NASDAQ:HAS) Will Post Quarterly Sales of $1.72 Billion

Wall Street analysts expect Hasbro, Inc. (NASDAQ:HAS) to announce sales of $1.72 billion for the current quarter, according to Zacks. Six analysts have provided estimates for Hasbro’s earnings, with the highest sales estimate coming in at $1.76 billion and the lowest estimate coming in at $1.66 billion. Hasbro posted sales of $1.57 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The company is expected to issue its next earnings report before the market opens on Tuesday, October 22nd.

According to Zacks, analysts expect that Hasbro will report full-year sales of $4.99 billion for the current financial year, with estimates ranging from $4.78 billion to $5.07 billion. For the next financial year, analysts forecast that the company will post sales of $5.22 billion, with estimates ranging from $4.97 billion to $5.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Hasbro.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.27. The business had revenue of $984.54 million for the quarter, compared to analysts’ expectations of $958.91 million. Hasbro had a return on equity of 30.92% and a net margin of 6.69%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Co lifted their target price on Hasbro from $95.00 to $111.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Barclays lifted their target price on Hasbro from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Stifel Nicolaus lifted their target price on Hasbro from $110.00 to $111.00 and gave the stock a “hold” rating in a report on Tuesday. BMO Capital Markets lifted their target price on Hasbro from $93.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, ValuEngine cut Hasbro from a “buy” rating to a “hold” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Hasbro presently has an average rating of “Buy” and a consensus price target of $123.69.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC purchased a new position in Hasbro in the second quarter worth about $32,243,000. Worldquant Millennium Advisors LLC boosted its position in shares of Hasbro by 16.7% during the second quarter. Worldquant Millennium Advisors LLC now owns 44,881 shares of the company’s stock valued at $4,743,000 after buying an additional 6,421 shares during the period. Duality Advisers LP boosted its position in shares of Hasbro by 125.0% during the first quarter. Duality Advisers LP now owns 69,980 shares of the company’s stock valued at $5,950,000 after buying an additional 38,880 shares during the period. Cleararc Capital Inc. purchased a new position in shares of Hasbro during the first quarter valued at approximately $238,000. Finally, BlackRock Inc. boosted its position in shares of Hasbro by 13.1% during the second quarter. BlackRock Inc. now owns 9,553,688 shares of the company’s stock valued at $1,009,635,000 after buying an additional 1,106,949 shares during the period. Institutional investors own 86.40% of the company’s stock.

NASDAQ:HAS traded up $1.64 on Wednesday, reaching $118.24. 389,785 shares of the company’s stock traded hands, compared to its average volume of 1,092,230. The company has a quick ratio of 2.11, a current ratio of 2.64 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $114.48 and a 200-day simple moving average of $104.74. The firm has a market cap of $14.92 billion, a PE ratio of 30.71, a P/E/G ratio of 2.29 and a beta of 1.09. Hasbro has a 12 month low of $76.84 and a 12 month high of $126.87.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.68 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.72 annualized dividend and a yield of 2.30%. Hasbro’s dividend payout ratio is currently 70.65%.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.

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