/Hasbro%2C%20Inc_%20phone%20and%20website%20by-%20T_Schneider%20via%20Shutterstock.jpg)
Headquartered in Pawtucket, Rhode Island, Hasbro, Inc. (HAS) is a global leader in toy and entertainment production, known for its iconic brands like Monopoly, Nerf, My Little Pony, and Transformers. Valued at a market cap of $10 billion, Hasbro is recognized for its innovation, creative excellence, and dedication to delivering immersive play and entertainment experiences. The company is set to report its fiscal Q3 earnings before the market opens on Thursday, October 24.
Ahead of the event, analysts expect HAS to report a profit of $1.34 per share, down 18.3% from $1.64 in the year-ago quarter. In the last four quarters, the company has surpassed or matched Wall Street’s bottom-line estimates in three and missed on another one occasion. Hasbro's adjusted earnings of $1.22 per share for the last quarter surpassed the consensus estimate by 58.4%, driven by solid performance in games and digital licensing.
For fiscal 2024, analysts expect HAS to report EPS of $3.94, up 57% from $2.51 in fiscal 2023.
HAS stock is up 41.3% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 21.9% gains and the Consumer Discretionary Select Sector SPDR Fund's (XLY) 9.9% returns over the same time frame.
In 2024, Hasbro has outpaced the broader market, driven by its strong brand recognition and loyal customer base. This success is further bolstered by the company's BluePrint 2.0 strategy, which has enhanced profit margins and fueled revenue growth from digital gaming and its iconic brands.
Additionally, on Jul. 25, the stock rose 3.5% after the company reported a smaller-than-expected decline in Q2 sales and exceeded profit expectations.
The consensus opinion on HAS stock is reasonably optimistic, with an overall “Moderate Buy” rating. Out of 11 analysts covering the stock, seven advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and three recommend a “Hold.”
HAS' average analyst price target is $75.18, indicating a potential upside of 4.2% from the current levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
