Goldman Cuts Estimates, Targets on Mattel (MAT), Hasbro (HAS) Ahead of Q2 Results
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Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 10
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Goldman Sachs reduced estimates on both Mattel (NYSE: MAT) and Hasbro (NYSE: HAS) Friday morning ahead of the companies' second-quarter results on Tuesday, July 17th and Monday, July 23rd, respectively. The firm cited "tepid domestic industry trends, a further slowdown in Europe (where MAT/HAS generate 20-30% of sales) and the negative impact of foreign exchange translation."
The firm's FY12 EPS estimate for Mattel was lowered from $2.45 to $2.32, the FY13 estimate was reduced from $2.68 to $2.53 and the FY14 estimate moved from $2.92 to $2.75. Goldman reduced its price target on Mattel shares from $35 to $34.
Goldman Sachs now sees Hasbro reporting FY12, FY13 and FY14 EPS of $2.78, $2.72 and $3.00, down from prior estimates of $3.00, $2.97 and $3.35, respectively. The firm's target goes from $36 to $34.
Goldman maintains Neutral ratings on both companies.
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The firm's FY12 EPS estimate for Mattel was lowered from $2.45 to $2.32, the FY13 estimate was reduced from $2.68 to $2.53 and the FY14 estimate moved from $2.92 to $2.75. Goldman reduced its price target on Mattel shares from $35 to $34.
Goldman Sachs now sees Hasbro reporting FY12, FY13 and FY14 EPS of $2.78, $2.72 and $3.00, down from prior estimates of $3.00, $2.97 and $3.35, respectively. The firm's target goes from $36 to $34.
Goldman maintains Neutral ratings on both companies.
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