Hasbro, Inc. Earnings Estimates Boosted by Roth Capital
Consensus Rating and Average Price Target for Hasbro, Inc.
In the realm of financial markets, Hasbro, Inc. (NASDAQ: HAS) has emerged as a prominent player in the toy and entertainment industry. To gain a comprehensive understanding of the company’s financial prospects, it is essential to examine the consensus rating and average price target assigned by industry analysts.
Analysts’ Earnings Estimates
Analysts at Roth Capital recently revised their earnings estimates for Hasbro’s fiscal year 2024 (FY2024) upward. E. Handler, an analyst at Roth Capital, now projects the company’s earnings per share (EPS) to reach $3.54 for the year, a significant increase from the previous estimate of $3.18.
The consensus estimate, which represents the average prediction among analysts, currently stands at $3.26 per share for Hasbro’s full-year earnings. Additionally, Roth Capital has provided an estimate of $4.10 EPS for Hasbro’s FY2025.
Price Target Adjustments
Several other analysts have also adjusted their price targets for Hasbro shares. Bank of America increased its target price from $60.00 to $70.00, maintaining a “neutral” rating. JPMorgan Chase & Co. raised its target price from $52.00 to $54.00, also with a “neutral” rating.
Monness Crespi & Hardt upgraded its price target from $60.00 to $75.00, assigning a “buy” rating. Jefferies Financial Group increased its target from $61.00 to $63.00, reiterating its “buy” rating. Roth Mkm also raised its target from $65.00 to $75.00, maintaining a “buy” rating.
Consensus Rating and Price Target
Based on the collective opinions of analysts, Hasbro currently holds a consensus rating of “Hold.” The average price target for the company’s shares is $65.73.
It is worth noting that analyst ratings and price targets are subject to change over time. Investors should carefully consider the underlying assumptions and methodologies used by analysts when making investment decisions.
Recent Financial Performance
Hasbro recently released its quarterly earnings data, reporting earnings per share of $0.61 for the quarter, surpassing the consensus estimate of $0.27 by $0.34. The company’s revenue for the quarter amounted to $757.30 million, exceeding analysts’ expectations of $739.84 million.
Despite strong quarterly performance, Hasbro’s revenue has declined by 24.3% year-over-year. The company’s net margin remains negative at -29.60%, indicating challenges in profitability.
Institutional Holdings
Institutional investors play a significant role in the stock market, and their holdings in Hasbro are worth noting. Currently, institutional investors and hedge funds hold a substantial 91.83% of Hasbro’s outstanding shares.
In recent quarters, there has been notable activity among institutional investors. Studio Investment Management LLC, ING Groep NV, Lindbrook Capital LLC, Parkside Financial Bank & Trust, and Orion Capital Management LLC have all increased their stakes in Hasbro.
The strong institutional support for Hasbro suggests that the company is seen as a long-term investment opportunity by many financial professionals.
Conclusion
The consensus rating and average price target provide valuable insights into the financial prospects of Hasbro, Inc. While analysts’ opinions can vary, the overall sentiment towards the company remains positive. Investors should remain informed about the company’s financial performance, analyst ratings, and institutional holdings when making investment decisions.
By carefully evaluating these factors, investors can gain a comprehensive understanding of the risks and opportunities associated with investing in Hasbro, Inc.
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