KeyBanc Initiates Coverage on Hasbro (HAS), Mattel (MAT) & JAKKS Pacific (JAKK)
HAS Hot Sheet
Rating Summary:2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
KeyBanc initiates coverage on Hasbro, Inc. (NYSE: HAS) & Mattel, Inc. (NYSE: MAT) with a BUY rating and JAKKS Pacific, Inc. (NASDAQ: JAKK) with a HOLD rating.
KeyBanc analyst says, "We are initiating coverage of HAS with a BUY rating and establishing a 12-month price target of $32 per share, which, combined with a 3.2% dividend yield, represents a compelling total return of approximately 30% over the next year. In addition, we are introducing 2009 and 2010 earnings estimates of $2.05 per share (First Call Consensus $2.13) and $2.15 per share (First Call Consensus $2.23), respectively. Based upon our 2010 estimates, HAS is currently trading at a P/E multiple of 11.7x and an EV/EBITDA multiple of 5.5x."
"We are initiating coverage of MAT with a BUY rating and establishing a 12-month price target of $20 per share, which, combined with a 4.6% dividend yield, represents a compelling total return of roughly 27% over the next year. In addition, we are introducing 2009 and 2010 earnings estimates of $1.20 per share (First Call Consensus $1.18) and $1.45 per share (First Call Consensus $1.40), respectively. Based upon our 2010 estimates, MAT is currently trading at a P/E multiple of 11.3x and an EV/EBITDA multiple of 6.6x."
"We are initiating coverage of JAKK with a HOLD rating. In addition, we are introducing 2009 and 2010 earnings estimates of $1.75 per share (First Call Consensus $1.73) and $1.80 per share (First Call Consensus $1.91), respectively. Based upon our 2010 estimates, JAKK is currently trading at a P/E multiple of 7.2x and an EV/EBITDA multiple of 3.1x. Our neutral disposition on JAKK is premised upon our belief that several earnings overhangs exist, including slowing growth in the core product portfolio, uncertainty regarding the integration of recent acquisitions, the loss of a key toy license beginning in 2010 and the potential for lower income from a video game joint venture, all of which could limit meaningful upside in the shares over the near term."
KeyBanc analyst says, "We are initiating coverage of HAS with a BUY rating and establishing a 12-month price target of $32 per share, which, combined with a 3.2% dividend yield, represents a compelling total return of approximately 30% over the next year. In addition, we are introducing 2009 and 2010 earnings estimates of $2.05 per share (First Call Consensus $2.13) and $2.15 per share (First Call Consensus $2.23), respectively. Based upon our 2010 estimates, HAS is currently trading at a P/E multiple of 11.7x and an EV/EBITDA multiple of 5.5x."
"We are initiating coverage of MAT with a BUY rating and establishing a 12-month price target of $20 per share, which, combined with a 4.6% dividend yield, represents a compelling total return of roughly 27% over the next year. In addition, we are introducing 2009 and 2010 earnings estimates of $1.20 per share (First Call Consensus $1.18) and $1.45 per share (First Call Consensus $1.40), respectively. Based upon our 2010 estimates, MAT is currently trading at a P/E multiple of 11.3x and an EV/EBITDA multiple of 6.6x."
"We are initiating coverage of JAKK with a HOLD rating. In addition, we are introducing 2009 and 2010 earnings estimates of $1.75 per share (First Call Consensus $1.73) and $1.80 per share (First Call Consensus $1.91), respectively. Based upon our 2010 estimates, JAKK is currently trading at a P/E multiple of 7.2x and an EV/EBITDA multiple of 3.1x. Our neutral disposition on JAKK is premised upon our belief that several earnings overhangs exist, including slowing growth in the core product portfolio, uncertainty regarding the integration of recent acquisitions, the loss of a key toy license beginning in 2010 and the potential for lower income from a video game joint venture, all of which could limit meaningful upside in the shares over the near term."
You May Also Be Interested In
- UPDATE: William Blair Starts EPIQ Systems (EPIQ) at Outperform; Broad Suite of Solutions in Electronic Discovery Sector
- UPDATE: Capstone Starts Facebook (FB) at Hold as Premium Multiple Not Justified
- UPDATE: CORRECTION: MOCON, Inc. (MOCO) Declares $0.105 Quarterly Dividend; 2.7% Yield
Create E-mail Alert Related Categories
New CoverageRelated Entities
KeyBanc, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
