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Hasbro, Inc.'s shift to digital gaming and entertainment is driving growth, with earnings and revenue exceeding expectations in Q2 2024. The company's strategic partnerships and investments in digital gaming are paying off, with strong licensing revenue and potential for long-term growth. Despite positive earnings results, Hasbro faces challenges in traditional toy sales and consumer products, leading to a “Hold” rating for investors.
Hasbro (HAS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
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Games and entertainment giant Hasbro Inc. NASDAQ: HAS reported an impressive Q2 2024 earnings report that helped it gap the following morning. However, the gap saw a lot of selling as shares fell from a peak of $65.12 to a low of $60.52.
Goldman Sachs analyst Stephen Laszczyk reiterated a Neutral rating on the shares of Hasbro Inc HAS and raised the price target from $62 to $65. The raised price target is based on 15.0x second-twelve-month EPS.
As toys and games retailers look to adapt to consumers' evolving habits and preferences, Hasbro is seeing the industry transformed by more adult and more digitally engaged customers.
Hasbro, Inc. HAS reported second-quarter fiscal 2024 results, wherein earnings and revenues beat the Zacks Consensus Estimate. Despite a year-over-year revenue decline, earnings increased on the back of a favorable business mix and improved operations.
Hasbro delivered a winning second quarter, beating profit and revenue expectations, largely on the strength of its digital gaming business.
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