On Friday toy and game manufacturer Hasbro, Inc. (HAS) announced its full-year 2012 earnings expectation, which are below analysts’ views.
The Rhode Island-based company said that it is expecting earnings per diluted share to be in the range of $2.73 to $2.75. This forecast includes fourth quarter restructuring costs and the negative impact of foreign exchange. Without the impact of foreign exchange, earnings are expected to be between $2.83 and $2.85 per share.
The company’s guidance is below the Wall Street outlook, which predicts Hasbro to earn $2.85 per share for 2012.
The maker of Hasbro, Tonka, and Milton Bradley games and toys believes full year 2012 sales will be $4.09 billion, down from $4.29 billion in 2011. Analysts are predicting sales to be $4.21 billion.
“We fundamentally believe our strategy is sound and we remain confident in our ability to drive profitable long-term growth through brand innovation,” said Deb Thomas, Chief Financial Officer. “We believe a reduction in ongoing costs in a challenging environment will deliver the greatest long-term return to our shareholders.”
Hasbro will release its fourth quarter and full year 2012 earnings report on February 4th.
Hasbro shares were down 97 cents, or -2.52%, during morning trading on Friday. The stock is up +6.54% over the past year.
The Bottom Line
Shares of Hasbro (HAS) have a 3.75% dividend yield, based on last night’s closing stock price of $38.45. The stock has technical support in the $35-$36 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels.
Hasbro, Inc. (HAS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here