Needham & Company Maintains a 'Buy' on Hasbro (HAS); Mixed Bag...Raising Estimates on Non-Operating Factors
Tweet
Share
E-mailGet Alerts HAS Hot Sheet
Price: $96.70 --0%
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Hasbro (NASDAQ: HAS) price target of $42.00.
Needham analyst says, "HAS posted revenues for 3Q’11 that were below our estimate, and EPS that were above our recently reduced estimate. Revenues grew 5%, compared to the 13% we expected. EPS of $1.27 exceeded our $1.23 estimate. Both revenue and EPS were below consensus. Several non-operating factors lead us to raise estimates for 2012 and 2013, including a lower assumed tax rate, greater share repurchases, and higher revenues from sales of TV programming outside the US. Moreover, we believe the overhang of retail inventories has been cleared up, and that early shipments in 4Q are encouraging. Finally, the continued surge in international markets is likely to continue, even as currency moves become less favorable."
"We have kept our 2011 EPS estimate at $2.85, but have raised our estimates for 2012 from $3.20 to $3.40, and for 2013 from $3.65 to $3.75, to reflect greater share repurchases, a lower ongoing tax rate, and greater sales of programming in foreign
markets."
For more ratings news on Hasbro click here and for the rating history of Hasbro click here.
Shares of Hasbro closed at $34.99 yesterday.
Needham analyst says, "HAS posted revenues for 3Q’11 that were below our estimate, and EPS that were above our recently reduced estimate. Revenues grew 5%, compared to the 13% we expected. EPS of $1.27 exceeded our $1.23 estimate. Both revenue and EPS were below consensus. Several non-operating factors lead us to raise estimates for 2012 and 2013, including a lower assumed tax rate, greater share repurchases, and higher revenues from sales of TV programming outside the US. Moreover, we believe the overhang of retail inventories has been cleared up, and that early shipments in 4Q are encouraging. Finally, the continued surge in international markets is likely to continue, even as currency moves become less favorable."
"We have kept our 2011 EPS estimate at $2.85, but have raised our estimates for 2012 from $3.20 to $3.40, and for 2013 from $3.65 to $3.75, to reflect greater share repurchases, a lower ongoing tax rate, and greater sales of programming in foreign
markets."
For more ratings news on Hasbro click here and for the rating history of Hasbro click here.
Shares of Hasbro closed at $34.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Needham Reiterates Hold Rating on CoreWeave (CRWV)
- Nu Holdings (Nubank) (NU) PT Raised to $19 at Needham
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & Company, HasbroSign 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!
