Published on 8 Apr 2024 on Zacks via Yahoo Finance
Sales-Boosting Initiatives Aid Hasbro (HAS), High Costs Hurt
Hasbro, Inc. HAS is benefiting from its focus on various sales-boosting initiatives, solid demand of its gaming category and opportunities in the emerging markets. Aided by these tailwinds, the company remains optimistic on its long-term growth trajectory (next three years) across its crucial growth defining metrics.Shares of this designer, manufacturer and marketer of games and toys rose 10.5% in the year-to-date period against the Zacks Toys - Games - Hobbies industry’s 2.9% decline. The uptrend can be attributable to the company’s intent focus on enhancing and diversifying its product portfolio, inventory optimization and resetting the cost structure.The Zacks Consensus Estimate for this Zacks Rank #3 (Hold) company’s 2024 earnings is pegged at $3.23 per share, depicting 28.7% growth from the prior year’s reported levels. Furthermore, the earnings estimate for first-quarter 2024 showcases a whopping 2,900% growth rate compared with the year-ago reported figure. The positive trend signifies bullish analysts’ sentiments, robust fundamentals and the chances of an outperformance in the near term.
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