$HAS

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Hasbro's Weak Consumer Product Performance Overshadows First-Quarter Beat

Hasbro (HAS) reported a first-quarter operating loss for the consumer products division on Wednesday amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.The segment's adjusted operating loss increased by 31% year over year to $40.5 million."The loss reflects higher royalty expense, incremental tariffs and the impact of prior year licensing strength," Chief Financial Officer Gina Goetter said on an earnings call, according to a FactSet transcript.Revenue for the consumer products business slipped to $397.9 million from $398.3 million a year ago as gains in Europe and Latin America were countered by declines in North America. Asia Pacific sales were flat.Higher toy and game volume failed to lift the segment as licensing revenue fell due to a tough comparison, Goetter told analysts.Shares of Hasbro, home to GI Joe action figures and digital games such as "Magic: The Gathering," plunged 8.3% intraday Wednesday. The stock is up 8.7% year-to-date.Consolidated revenue for the quarter ended March 29 jumped 13% annually to $1 billion, exceeding the FactSet-polled consensus estimate of $969.2 million. Adjusted earnings rose to $1.47 per share from $1.04 a year earlier, compared with analysts' $1.20 view."Product mix and scale were more than able to offset the headwind of higher royalty and operating expense," Goetter said on the call.Sales within the Wizards of the Coast and digital gaming division rose 26% to $582 million.For 2026, Hasbro continues to expect overall revenue to rise 3% to 5% at constant currencies. Analysts are looking for full-year sales of $4.96 billion, up from $4.70 billion reported for 2025."The macro environment continues to require agility, including absorbing and offsetting the impact of rising oil costs across the business, which impacts our freight, resin and packaging costs," Goetter said on the call. "While the impact of higher inputs won't be realized until the back half of 2026, we have several actions underway across a variety of operating levers, including freight optimization, mix management, and operating spend reductions to mitigate the impact."Price: $89.26, Change: $-7.92, Percent Change: -8.15%

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Research71d ago

Research Alert: Wizards And Digital Gaming Continue To Fuel Growth At Hasbro

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:HAS delivered strong Q1 2026 results with revenue of $1,000.2M (+13% Y/Y), $34M above estimates, and adjusted operating profit of $287M (+29% Y/Y), demonstrating exceptional operating leverage from higher-margin businesses. The quarter was led by outstanding Wizards and Digital Gaming segment performance, growing 26% Y/Y to $582.0M with a robust 51.2% operating margin. We continue to be impressed with the growth and margins of the company's Magic franchise, which grew 36% Y/Y to $469.6M, fueled by successful releases, and it is encouraging that Consumer Products is showing signs of stabilization despite Q1 headwinds. Management maintained full-year 2026 guidance despite a contained cybersecurity incident, expecting revenue growth of 3%-5% at constant currency and adjusted operating margin of 24%-25%. We believe Hasbro's franchise-first strategy continues to generate top-line growth and margin expansion well above peers, with shares trading at an attractive 16x consensus 2026 EPS estimates.

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US Markets71d ago

Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes

The main US stock measures were pointing higher in Wednesday's premarket activity as traders await tech bellwether Nvidia's (NVDA) latest financial results and minutes of the Federal Reserve's last policy meeting.The S&P 500 rose 0.4%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower, with the Nasdaq and S&P 500 recording losses for a third consecutive session.Shares of Nvidia increased 1.8% pre-bell, with the chipmaker scheduled to report its fiscal first-quarter results after the markets close. The current consensus on FactSet is for the company to report non-GAAP earnings of $1.75 per share and revenue of $78.91 billion for the quarter.Nvidia's sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note e-mailed Tuesday.The Fed is scheduled to post minutes of its last policy meeting at 2 pm, which will be assessed for fresh insight on the central bank's monetary policy. Last month, the central bank held interest rates steady, saying the Middle East war is fueling uncertainty around the US economic outlook.Markets widely expect the Fed to keep its benchmark lending rate unchanged at its next policy meeting in June, according to the CME FedWatch tool.Treasury yields were down before the open, with the two-year rate retreating 3.3 basis points to 4.09% and the 10-year rate declining 1.8 basis points to 5.16%.President Donald Trump reportedly said Tuesday that the US may need to resume military strikes against Iran. Earlier in the week, Trump said the US postponed a planned attack on Tehran after leaders of Saudi Arabia, Qatar and the United Arab Emirates urged restraint amid "serious" ongoing negotiations.West Texas Intermediate crude oil decreased 1.9% to $102.17 a barrel in premarket action, while Brent dropped 2% to $109.02.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am. Fed Governor Michael Barr is slated to speak at 9:15 am.Analog Devices (ADI), TJX (TJX), Lowe's (LOW), Target (TGT) and Hasbro (HAS) are expected to post their earnings before the bell, among others. Intuit (INTU), Nordson (NDSN) and Urban Outfitters (URBN) release their results after the markets close.Gold nudged 0.4% lower to $4,493 per troy ounce, while bitcoin gained 0.9% to $77,457.

Dow JonesNasdaq CompositeS&P 500$ADI$HAS$INTU$LOW$NDSN$NVDA$TGT$TJX$URBN

Wire77d ago

Morgan Stanley Adjusts Price Target on Hasbro to $123 From $122, Maintains Overweight Rating

Hasbro (HAS) has an average rating of overweight and mean price target of $115.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $96.43, Change: $+2.42, Percent Change: +2.57%

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Wire77d ago

Hasbro Estimates Raised on Strong Q1 Upside, Sustained Magic Momentum, Morgan Stanley Says

Hasbro (HAS) raised its 2026 and 2027 estimates following upside in the company's delayed Q1 2026 10-Q, Morgan Stanley said in a late Wednesday note.The analysts cited detailed segment disclosures showing continued strength in Wizards of the Coast and sustained momentum in Magic: The Gathering, along with encouraging progress on the previously disclosed cyber incident.The analysts said full financial disclosure showed earnings ahead of expectations, with adjusted profitability also tracking above earlier estimates, adding that the update improved visibility into segment performance and reinforced strengthening underlying operating trends.Morgan Stanley cited strong Wizards of the Coast growth led by Magic: The Gathering, with Consumer Products broadly stable, and said strength was the main driver of upside despite mixed performance elsewhere in the portfolio.Management's commentary suggested recovery from the cyber incident is progressing, with systems being brought back online sequentially and some systems apparently already restored, while disruptions are expected to ease, supporting continued momentum higher FY26 and FY27 estimates, the report added.Morgan Stanley maintained its overweight rating on the stock and raised its price target to $123 from $122.Shares of Hasbro were up 1.5% in Thursday trading.Price: $95.73, Change: $+1.72, Percent Change: +1.83%

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Wire94d ago

Hasbro Subsidiary's Workers Seek Union Recognition

Hasbro (HAS) subsidiary Wizards of the Coast's workers are seeking management's voluntary recognition of their union, the Communications Workers of America labor union said Monday.The workers sent a letter to management earlier Monday outlining issues they target to address as a union and gave management until the end of the week to recognize the union, according to a statement.The workers, who are involved in designing the digital game Magic: The Gathering Arena, also filed an election petition with the National Labor Relations Board, the CWA said.Hasbro and Wizards of the Coast did not immediately reply to a request for comment from.Price: $94.85, Change: $-0.23, Percent Change: -0.24%

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Wire97d ago

DA Davidson Adjusts Price Target on Hasbro to $100 From $110, Maintains Neutral Rating

Hasbro (HAS) has an average rating of overweight and mean price target of $115.71, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $95.77, Change: $-0.81, Percent Change: -0.84%

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Wire98d ago

Morgan Stanley Adjusts Hasbro Price Target to $122 From $119, Maintains Overweight Rating

Hasbro (HAS) has an average rating of overweight and mean price target of $115.69, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $98.71, Change: $+8.10, Percent Change: +8.93%

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Wire98d ago

JPMorgan Adjusts Price Target on Hasbro to $125 From $115, Maintains Overweight Rating

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Sectors98d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.Keurig Dr Pepper (KDP) shares were up more than 2% after the company reported first-quarter adjusted earnings and revenue that topped analysts' expectations.Hasbro (HAS) stock was up more than 4% after the company reported preliminary fiscal Q1 revenue of $970 million to $985 million.TAL Education Group (TAL) shares were down more than 3% even after the company posted higher fiscal Q4 non-GAAP earnings and net revenue.

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Research98d ago

Research Alert: Hasbro Announces Preliminary Q1 Above Expectations Despite Cyber Incident

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Hasbro announced preliminary Q1 2026 results with revenue of $970M-$985M (+9%-11% Y/Y) and adjusted operating profit of $250M-$260M (+12%-17% Y/Y), both well-above consensus estimates due to Wizards of the Coast and Digital Gaming strength. The company contained a cybersecurity incident during the quarter without impacting Q1 results, though it delayed financial statement completion and 10-Q filing. Management maintained full-year 2026 guidance despite operational disruption, expecting 3%-5% revenue growth, 24%-25% adjusted operating margin, and $1.40B-$1.45B adjusted EBITDA. Magic: The Gathering operations remained unaffected with April's Secrets of Strixhaven release on schedule, while Consumer Products may see Q2 impact from processing delays but recovery expected in 2H. The significant operating leverage with profit growth of 38%-44% on revenue growth of 9%-11% demonstrates continued strength in higher-margin business mix and operational resilience.

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Wire101d ago

Hasbro's Q1 Results to Focus on Wizards of the Coast Demand Strength, Cost Increases, UBS Says

Hasbro's (HAS) Q1 results will focus on strong demand in its Wizards of the Coast unit and how the company frames higher resin and freight costs for the profit and loss statement on a run-rate basis, UBS Securities said in a note Monday.UBS said demand strength in the Wizards of the Coast was driven by "Teenage Mutant Ninja Turtles," along with "Secrets of Strixhaven" showing strong presale numbers in Q1.UBS said that overall focus on margins is expected, given resin price inflation and freight and distribution cost increases, adding that it estimates every 10% rise in resin costs is around $0.08 in earnings per share, while every 10% increase in both inbound and outbound freight is around $0.09 of EPS for Hasbro.UBS added it expects Hasbro to keep its topline guidance for 2026, even if the company faces a slight supply chain disruption.UBS maintained its buy rating with a $110 price target.Price: $95.34, Change: $-1.81, Percent Change: -1.86%

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