Hasbro (HAS) is Upgraded by Piper Jaffray to Overweight

Hasbro (HAS) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Jul 19, 2016.

Many Wall Street Analysts have commented on Hasbro. Piper Jaffray Downgraded Hasbro on May 10, 2016 to ” Neutral”, Price Target of the shares are set at $88.

On the company’s financial health, Hasbro reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.39. The company had revenue of $878.90 million for the quarter, compared to analysts expectations of $859.30 million. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Hasbro closed down -5.68 points or -6.64% at $79.82 with 79,40,295 shares getting traded on Monday. Post opening the session at $83.5035, the shares hit an intraday low of $78.53 and an intraday high of $84.25 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on May 19, 2016, Hasbro announced a cash dividend of $0.5100. The company’s management has announced Jul 28, 2016 as the ex-dividend date and fixed the record date on Aug 1, 2016. The payable date has been fixed on Aug 15, 2016.

In a different news, on May 31, 2016, Duncan Billing (EVP, Chief Gbl Ops & Bus Dvpmt) sold 3,514 shares at $87.27 per share price. According to the SEC, on May 25, 2016, John Frascotti (President, Hasbro Brands) sold 36,170 shares at $87.00 per share price. On May 24, 2016, Wiebe Tinga (EVP & Chief Commerical Officer) sold 25,000 shares at $85.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Hasbro Inc. (Hasbro) through its wholly owned Hasbro Studios LLC (Hasbro Studios) creates entertainment brand storytelling across mediums including television film and among others. Its brand blueprint involves re-imagining re-inventing and re-igniting its owned and controlled brands and imagining inventing and igniting new brands through toy and game innovation immersive entertainment offerings including television programming and motion pictures and a range of products ranging from traditional to digital. The Company markets its brands under product categories which include boys games girls and preschool toys. The Company’s business operations include United States Canada International Entertainment and Licensing. Its global operations include arranging product manufacturing and sourcing for the United States and Canada and International operations. Its brands include LITTLEST PET SHOP MONOPOLY MY LITTLE PONY NERF PLAY-DOH and TRANSFORMERS.


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