Roth Capital Forecasts Hasbro’s FY2024 Earnings (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) – Analysts at Roth Capital dropped their FY2024 earnings per share estimates for Hasbro in a report issued on Wednesday, January 15th. Roth Capital analyst E. Handler now forecasts that the company will post earnings of $3.84 per share for the year, down from their previous estimate of $3.90. The consensus estimate for Hasbro’s current full-year earnings is $3.87 per share.

Hasbro (NASDAQ:HAS) last announced its earnings results on Thursday, October 24th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.45. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. The firm’s quarterly revenue was down 14.8% compared to the same quarter last year.

HAS has been the topic of several other research reports. Jefferies Financial Group upped their price objective on shares of Hasbro from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus dropped their price target on shares of Hasbro from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Morgan Stanley lifted their price target on shares of Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, DA Davidson raised their price objective on Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $57.74 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.29 and a current ratio of 1.47. The stock’s fifty day simple moving average is $60.81 and its 200-day simple moving average is $64.35. Hasbro has a 52-week low of $46.09 and a 52-week high of $73.46.

Insiders Place Their Bets

In other Hasbro news, EVP Matthew Edward Austin sold 1,718 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $65.06, for a total transaction of $111,773.08. Following the completion of the sale, the executive vice president now owns 36,828 shares in the company, valued at $2,396,029.68. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Institutional Trading of Hasbro

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Hasbro by 224.8% during the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock worth $31,000 after buying an additional 299 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Hasbro during the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Hasbro in the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new stake in Hasbro in the 3rd quarter valued at about $45,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Hasbro during the third quarter worth approximately $49,000. 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.