Hasbro Analysts Cut Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Hasbro Inc reported a 10% YoY decline in Q3 FY23 sales to $1.503 billion, missing the analyst consensus estimate of $1.644 billion. The company also revised its FY23 revenue forecast to a decline of 13%-15%, from the previous estimate of 3%-6%. Following the announcement, Hasbro's shares fell 4.4% and several analysts cut their price targets on the company.
October 27, 2023 | 5:34 pm
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Hasbro's lower than expected Q3 sales and downward revision of FY23 revenue forecast led to a drop in its share price and analysts cutting their price targets.
Hasbro's Q3 sales missed estimates and the company also revised its FY23 revenue forecast downwards. This negative news led to a drop in the company's share price and prompted analysts to cut their price targets, indicating a negative short-term impact on the stock.
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IMPORTANCE 90
RELEVANCE 100