Hasbro shares are trading lower after the company on Thursday reported worse-than-expected Q3 financial results and said it expects FY23 revenue decline. B of A Securities downgraded the stock to Neutral.
Portfolio Pulse from Benzinga Newsdesk
Hasbro reported worse-than-expected Q3 financial results and anticipates a revenue decline in FY23. B of A Securities has downgraded the stock to Neutral.
October 27, 2023 | 7:26 pm
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NEGATIVE IMPACT
Hasbro's disappointing Q3 results and expected FY23 revenue decline led to a downgrade by B of A Securities.
Hasbro's worse-than-expected Q3 results and the company's forecast of a revenue decline in FY23 are negative indicators for the company's financial health. This has led B of A Securities to downgrade the stock, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100