Hasbro (HAS) is Downgraded by Piper Jaffray to Neutral

Hasbro (HAS) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Nov 28, 2016.

On the company’s financial health, Hasbro reported $2.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Oct 17, 2016. Analyst had a consensus of $1.74. The company had revenue of $1679.80 million for the quarter, compared to analysts expectations of $1552.71 million. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS.

Hasbro opened for trading at $86.96 and hit $87.96 on the upside on Friday, eventually ending the session at $87.94, with a gain of 1.21% or 1.05 points. The heightened volatility saw the trading volume jump to 4,18,645 shares. Company has a market cap of $10,974 M.

In a different news, on Nov 16, 2016, Duncan Billing (EVP, CGO & New Bus Dvlp Offic) sold 18,751 shares at $86.00 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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