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HAS

Hasbro

$90.20

-0.91 (-1.00%)

06:36
02/08/19
02/08
06:36
02/08/19
06:36

Hasbro CEO says '2018 was a very disruptive year'

"2018 was a very disruptive year, driven by the bankruptcy and liquidation of Toys"R"Us across most of the world and a rapidly shifting consumer and retail landscape," said Brian Goldner, Hasbro's chairman and CEO. "During 2018, we diversified our retailer base, meaningfully lowered retailer inventories and delivered innovative new offerings to our global consumers. We were not, however, able to recapture as much of the Toys"R"Us business during the holiday period as we anticipated as the effect of its liquidated inventory in the market was more impactful than we and industry experts expected. It is an unprecedented yet finite event. In addition, as we discussed throughout the year, our European shipments declined as the teams successfully lowered retailer inventories amidst a declining toy and game market." "Throughout 2018, we engaged in several major innovation initiatives and initiated significant organizational changes to enable us to stabilize our European business in 2019 and return Hasbro to profitable growth this year," continued Goldner. "In 2019 we are entering the next innovation cycle for NERF and we will deliver break frame innovation across price points in the market this year. Hasbro's POWER RANGERS line will hit the market in the second quarter, setting the stage for an all new era for this iconic brand. We are positioned to advance our gaming leadership, leveraging our investments, social relevance, innovative game play and the industry's broadest games portfolio, including the launch of our digital game Magic: The Gathering Arena. We will deliver all new play experiences in support of a raft of compelling entertainment properties, including Marvel Studios' Captain Marvel and Avengers: Endgame, Columbia Pictures' Spider-Man: Far From Home, Disney Animation's Frozen 2 and Lucasfilm's Star Wars: Episode IX. Finally, to successfully deliver these and numerous other initiatives, we've re-imagined and re-designed our go-to-market strategy globally supported by compelling, digital-first marketing programs for our consumers and retailers." "Despite the challenging year, Hasbro remains in a strong financial position with the ability to continue investing to drive profitable long-term growth and raise our quarterly dividend 8% in 2019," said Deborah Thomas, Hasbro's chief financial officer. "Given the rapid change in our business, our global teams are focused on identifying incremental opportunities to deliver top and bottom line returns. Investments to drive top line growth include the acquisition of POWER RANGERS, storytelling such as Bumblebee and new growth drivers including Magic: The Gathering Arena and the associated MAGIC esports initiatives. We've also undertaken important operational programs-investing in the geographic diversification of our manufacturing locations and a new Midwest U.S. warehouse opening in 2019. In addition, the organizational actions we outlined are now expected to deliver $50 to $55 million in net pre-tax savings in 2019."

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HAS Hasbro
$90.20

-0.91 (-1.00%)

01/18/19
MKMP
01/18/19
NO CHANGE
Target $102
MKMP
Buy
Hasbro price target lowered to $102 from $110 at MKM Partners
MKM Partners analyst Eric Handler lowered his price target on Hasbro to $102 to reflect the company's "soft" holiday period sales. The analyst keeps his Buy rating however, noting that the "tough" season is now in the past and anticipating "easing revenue headwinds, a strong product lineup and ongoing cost efficiencies" to drive above average sales growth this year. Handler adds that Hasbro stock stands to benefit from the expected "high single-digit dividend increase and the potential for increased share repurchases during the year."
10/23/18
RHCO
10/23/18
NO CHANGE
Target $96
RHCO
Hold
Hasbro price target lowered to $96 from $108 at SunTrust
SunTrust analyst Michael Swartz lowered his price target on Hasbro to $96 after its "disappointing" Q3 results that were highlighted by a 100bps decline in gross margins, revenue pressure from Toys R Us liquidation, and "corrective inventory actions in Europe". The analyst also lowers his FY18 EPS view to $4.30 from $4.92 and his FY19 view to $5.05 from $5.25, anticipating Hasbro's sales and margin pressures to persist until the middle of 2019. Swartz kept his Hold rating on the shares.
10/23/18
WELS
10/23/18
NO CHANGE
Target $95
WELS
Market Perform
Hasbro price target lowered to $95 from $100 at Wells Fargo
Wells Fargo analyst Timothy Conder lowered his price target for Hasbro to $95 from $100 following Q3 revenue/margin miss on retail transition/clearance, Toys R Us adjustments, and headwinds in key partner brands. The analyst reiterates a Market Perform rating on the shares.
10/23/18
MKMP
10/23/18
NO CHANGE
Target $110
MKMP
Buy
Hasbro price target lowered to $110 from $115 at MKM Partners
MKM Partners analyst Eric Handler lowered his price target on Hasbro to $110 after its "disappointing" Q3 results that saw a miss on revenue, saying he "misjudged" the timing around the impact of Toys R Us liquidation and the comparisons related to last year's campaigns for Moana and Beauty and the Beast. The analyst keeps his Buy rating on expected Hasbro recovery in 2019-2020 however and anticipates the industry headwinds to "lessen going forward". Handler also lists some silver linings from Q3 that included improved orders and online point of sale growth in the high single-digits.

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CRWD

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ESTE

Earthstone Energy

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USAS

Americas Silver

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0.16 (5.99%)

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YTRA

Yatra

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Clean Energy

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AA

Alcoa

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AUY

Yamana Gold

$2.87

0.13 (4.74%)

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$0.00

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BCPC

Balchem

$98.76

0.04 (0.04%)

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AGLE

Aeglea BioTherapeutics

$7.01

-0.14 (-1.96%)

07:20
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Conference/Events
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BA

Boeing

$361.17

-8.28 (-2.24%)

, SPR

Spirit AeroSystems

$73.37

-1.555 (-2.08%)

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SPR

Spirit AeroSystems

$73.37

-1.555 (-2.08%)

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MIK

Michaels

$8.37

-0.53 (-5.96%)

07:19
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  • 25

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DHR

Danaher

$143.03

3.43 (2.46%)

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Danaher analyst commentary  »

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  • 07

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ADAP

Adaptimmune

$3.43

0.1 (3.00%)

07:15
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Conference/Events
Adaptimmunemanagement to meet with Piper Jaffray »

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HQY

HealthEquity

$76.39

0.96 (1.27%)

, WAGE

WageWorks

$50.79

-0.01 (-0.02%)

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HealthEquity

$76.39

0.96 (1.27%)

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WageWorks

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ATHM

Autohome

$82.03

-0.91 (-1.10%)

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CLF

Cleveland-Cliffs

$10.88

-0.11 (-1.00%)

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ATRA

Atara Biotherapeutics

$15.27

0.25 (1.66%)

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Syndicate
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DFS

Discover

$81.65

1.62 (2.02%)

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CLF

Cleveland-Cliffs

$10.88

-0.11 (-1.00%)

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GRUB

GrubHub

$74.90

0.17 (0.23%)

07:09
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ISRG

Intuitive Surgical

$536.44

13.25 (2.53%)

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IBKC

Iberiabank

$75.24

0.8 (1.07%)

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Earnings
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CLF

Cleveland-Cliffs

$10.88

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SLB

Schlumberger

$38.78

0.15 (0.39%)

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