Hasbro (HAS) emerges as a top growth and momentum stock, seeing a 31% yearly rise, significantly outperforming the market on multiple occasions. Analysts have revised estimates upwards, thanks to the success of 'Magic: The Gathering'. Its Q1 earnings surpassed expectations, adding strength, partly due to cost-cutting and inventory reduction measures. However, Sumitomo Mitsui and Chevy Chase Trust have reduced their stock positions, and the company has seen sale of shares by insiders. While Hasbro's stock had some underperforming days, overall, its strength was noteworthy in the longer term. Hasbro's digital gaming strategies appear to be a game-changer, with Wall Street applauding profit beats by the company. However, the company also faces challenges, with stock downfall amid weak holiday seasons and occasional profit misses. Its Q4 earnings and revenues missed predictions, and a sales downturn looms. The company plans to lay off workers due to a toy sales slump, but anticipates a Q3 2024 per-share earnings of $1.39.
Hasbro Stocks HAS News Analytics from Thu, 26 Oct 2023 07:00:00 GMT to Sat, 24 Aug 2024 19:37:04 GMT -
Rating 7
- Innovation 6
- Information 9
- Rumor -4
