Games and entertainment giant Hasbro Inc. NASDAQ: HAS reported an impressive Q2 2024 earnings report that helped it gap the following morning. However, the gap saw a lot of selling as shares fell from a peak of $65.12 to a low of $60.52.
Goldman Sachs analyst Stephen Laszczyk reiterated a Neutral rating on the shares of Hasbro Inc HAS and raised the price target from $62 to $65. The raised price target is based on 15.0x second-twelve-month EPS.
As toys and games retailers look to adapt to consumers' evolving habits and preferences, Hasbro is seeing the industry transformed by more adult and more digitally engaged customers.
Hasbro, Inc. HAS reported second-quarter fiscal 2024 results, wherein earnings and revenues beat the Zacks Consensus Estimate. Despite a year-over-year revenue decline, earnings increased on the back of a favorable business mix and improved operations.
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While the top- and bottom-line numbers for Hasbro (HAS) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Toy company Hasbro beat Wall Street expectations for the second-quarter on Thursday, thanks in part to growth in its digital gaming segment. Hasbro reported a net income of $138.5 million, a significant gain from the same quarter last year, when Hasbro reported a net loss of $234.9 million.
Hasbro (HAS) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.49 per share a year ago.
Hasbro's (HAS) second-quarter performance is likely to have benefited from a focus on innovative product lines and successful licensing agreements.
Hasbro presents itself as a leading toy and game company with a portfolio of iconic brands including Peppa Pig, or Monopoly. In my view, positive EBITDA, FCF, and net debt decrease indicate potential for earnings growth and stock demand acceleration. Hasbro has shown long-term growth since 2014, despite recent goodwill impairments.
Hasbro (HAS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Hasbro (HAS) closed at $59.51 in the latest trading session, marking a -0.39% move from the prior day.