Hasbro, Inc. (NASDAQ:HAS) to Issue $0.70 Quarterly Dividend

Hasbro, Inc. (NASDAQ:HAS) declared a quarterly dividend on Thursday, October 17th,Zacks Dividends reports. Stockholders of record on Wednesday, November 20th will be paid a dividend of 0.70 per share on Wednesday, December 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Wednesday, November 20th.

Hasbro has increased its dividend by an average of 1.0% per year over the last three years. Hasbro has a dividend payout ratio of 63.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hasbro to earn $4.49 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 62.4%.

Hasbro Stock Down 0.8 %

Hasbro stock opened at $61.69 on Tuesday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of -13.30, a price-to-earnings-growth ratio of 0.57 and a beta of 0.63. Hasbro has a 52 week low of $43.74 and a 52 week high of $73.46. The business’s 50-day moving average price is $68.89 and its 200 day moving average price is $64.32. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.28 by $0.45. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.30 billion. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. Hasbro’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. As a group, sell-side analysts anticipate that Hasbro will post 3.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on HAS shares. Stifel Nicolaus raised their price objective on Hasbro from $78.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. DA Davidson boosted their price target on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Jefferies Financial Group increased their price objective on shares of Hasbro from $75.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Bank of America boosted their target price on shares of Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.67.

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.