B of A Securities lowers Hasbro (NASDAQ:HAS) price target from $90 to $53
B of A Securities analyst Jason Haas downgrades Hasbro (NASDAQ:HAS) from Buy to Neutral and lowers the price target from $90 to $53.
News & Forecast & Price target & Analyst Ratings & Estimates
B of A Securities analyst Jason Haas downgrades Hasbro (NASDAQ:HAS) from Buy to Neutral and lowers the price target from $90 to $53.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month price target by $17 to $68, based on 17.0x our 2024 EPS estimate and in line with the company’s 10-year average forward P/E multiple of 18.8x. We lower our 2023 and 2024 EPS estimates by $0.50 to $3.50 and $1.00 to $4.00, respectively. HAS posts normalized Q3 EPS of $1.64 vs. $1.42, $0.05 below consensus estimates on revenues of $1.50B vs. $1.68B and $129M below estimates. By segment in Q3, Consumer Products declined 18% Y/Y while Entertainment declined 42%, and Digital Gaming increased 40% due to strength in Monopoly Go and Baldur’s Gate III. The slowdown in Entertainment was due to the writers’ strike. HAS expects the sale of eOne by end of the year. Q3 adjusted operating margin improved 670 bps Y/Y…
Read More “CFRA Maintains Strong Buy Opinion On Shares Of Hasbro, Inc.” »
Hasbro is likely to post weaker 3Q results as retail sales lag, DA Davidson analyst Linda Bolton Weiser says in a research note. Hasbro management suggested last month that some retailers are taking a more cautious approach heading into the holiday season following bloated inventories at the end of last year. The company has warned that August consumer-product sales were still weaker following a lackluster first half of the year, putting more pressure on a sales jump in September to meet guidance. Weiser slashes her forecast for Hasbro’s 3Q consumer product sales to a 10% drop, compared with a prior projection of a 5% drop.
Stifel analyst Drew Crum maintains Hasbro (NASDAQ:HAS) with a Buy and raises the price target from $79 to $94.
Hasbro (NASDAQ:HAS),Bank of America raised its expectations for the year, citing potential sales growth from the recent launches of the digital game Monopoly Go and videogame Baldur’s Gate 3. The entertainment and toy company’s Monopoly Go game could add $60 million to revenue, if it generates $500 million of revenue in its first year, largely benefiting 2024, according to Bank of America’s analysts. Bank of America is raising its 2023, 2024 and 2025 earnings per share to include positive prospects for Monopoly Go and Baldur’s Gate 3. The U.S. bank, which also increases its target price to $90 from $85 previously, predicts 2023 earnings per share of $3.89, up from $3.87 previously. For 2024 and 2025, Bank of America raises its views to earnings per share of $5 and $5.34, up from $4.80 and $5.18.
B of A Securities analyst Jason Haas maintains Hasbro (NASDAQ:HAS) with a Buy and raises the price target from $85 to $90.
DA Davidson analyst Linda Bolton Weiser reiterates Hasbro (NASDAQ:HAS) with a Buy and maintains $80 price target.
Goldman Sachs Adjusts Price Target on Hasbro (NASDAQ:HAS) to $64 From $63, Maintains Neutral Rating.
Bank of America Securities analyst Jason Haas upgrades Hasbro (NASDAQ:HAS) from Neutral to Buy and raises the price target from $68 to $85.
Stifel analyst Drew Crum maintains Hasbro (NASDAQ:HAS) with a Buy and raises the price target from $75 to $79.