Hasbro Misses by a Penny – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/19291/Hasbro+Misses+by+a+Penny+-+Zacks+Tale+of+the+TapePosted on Monday, April 20th, 2009 | In Market Commentary, Stocks to Watch
Hasbro Inc.’s (HAS) first-quarter earnings of 14 cents a share missed the lowered consensus by a penny.
The Zacks #3 Rank (”Hold”) stock has declined over 3% today amid volume of 1.8 million. Average volume is around 2.1 million.
Sales during the quarter fell 12% to $621.3 million, as reduced discretionary spending by customers, a stronger dollar and lower inventories at retailers affected performance.
In terms of segments, the US and Canada segment sales decreased 6% year-over-year, while the international segment contracted 24%.
Hasbro, however, expects better results in the coming quarters, driven by the releases of 3 films: Transformers: Revenge of The Fallen, G.I. Joe: Rise of Cobra and X-Men Origins: Wolverine.
The full-year consensus estimate is down 2 cents over the past 60 days to $2.09 per share.
“HAS” Free Stock Analysis: Buy? Sell? Hold?
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