Toy maker Hasbro, Inc. (HAS) on Monday posted second quarter earnings that beat analysts’ expectations, although its revenue totals slumped from last year and fell short of Wall Street’s view.
The Pawtucket, RI-based company reported second quarter net income of $43.4 million, or 33 cents per share, compared with $58.1 million, or 42 cents per share, in the year-ago period. Last year’s results included a one-time tax gain.
Revenue fell 11% from last year to $811.5 million.
On average, Wall Street analysts expected a much smaller profit of 23 cents per share, albeit on higher revenue of $829 million.
Hasbro shares rose 46 cents, or +1.4%, in premarket trading Monday.
The Bottom Line
Shares of Hasbro (HAS) have a 4.26% dividend yield, based on Friday’s closing stock price of $33.84. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $35-$36 price levels.
Hasbro, Inc. (HAS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.