Hasbro (NASDAQ:HAS) Stock Price Up 9% on Better-Than-Expected Earnings

Hasbro, Inc. (NASDAQ:HAS - Get Free Report)'s share price rose 9% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $68.73 and last traded at $66.65. Approximately 1,131,658 shares changed hands during trading, a decline of 14% from the average daily volume of 1,315,244 shares. The stock had previously closed at $61.14.

The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.36 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.02 billion. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.14%. The ex-dividend date is Monday, March 3rd. Hasbro's dividend payout ratio (DPR) is -60.34%.

Wall Street Analyst Weigh In

HAS has been the topic of several research analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $84.00 price target (down previously from $88.00) on shares of Hasbro in a research report on Friday. Roth Mkm lifted their price target on Hasbro from $68.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday. Stifel Nicolaus dropped their target price on Hasbro from $82.00 to $77.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Finally, DA Davidson boosted their target price on Hasbro from $59.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.00.

Insiders Place Their Bets

In other Hasbro news, EVP Matthew Edward Austin sold 1,718 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $65.06, for a total value of $111,773.08. Following the completion of the transaction, the executive vice president now owns 36,828 shares in the company, valued at approximately $2,396,029.68. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HAS. Blue Trust Inc. raised its position in Hasbro by 224.8% in the third quarter. Blue Trust Inc. now owns 432 shares of the company's stock worth $31,000 after acquiring an additional 299 shares in the last quarter. Raymond James & Associates grew its holdings in Hasbro by 30.2% in the third quarter. Raymond James & Associates now owns 180,127 shares of the company's stock valued at $13,027,000 after purchasing an additional 41,829 shares during the last quarter. Signaturefd LLC grew its holdings in Hasbro by 41.3% in the third quarter. Signaturefd LLC now owns 2,708 shares of the company's stock valued at $196,000 after purchasing an additional 791 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Hasbro by 7,141.6% in the third quarter. International Assets Investment Management LLC now owns 56,629 shares of the company's stock valued at $40,950,000 after purchasing an additional 55,847 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in Hasbro by 14.1% in the third quarter. Tectonic Advisors LLC now owns 100,691 shares of the company's stock valued at $7,282,000 after purchasing an additional 12,419 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Hasbro Price Performance

The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64. The company has a market cap of $9.42 billion, a price-to-earnings ratio of -14.56, a price-to-earnings-growth ratio of 0.53 and a beta of 0.64. The company has a fifty day simple moving average of $58.31 and a two-hundred day simple moving average of $64.17.

Hasbro Company Profile

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.