Toy maker Hasbro, Inc. (HAS) received some continued bullish support from analysts at Needham & Co.
The firm backed its “Buy” rating and $39 price target on HAS, which suggests a 13% upside to the stock’s Thursday closing price of $34.59.
A Needham analyst commented, “Paramount Studios and Hasbro have decided to move the release date for GI Joe: Retaliation from its June 29, 2012, release date to March 29, 2013. We had modest expectations for revenue, but believe this timing shift moves nearly $50-100mm in revenue from 2012 to 2013. We assume that Hasbro has not incurred costs on the product line that will have to be repeated next year, and that the shift in profits could be $0.08 to $0.16 per share. We are leaving our revenue and earnings estimates unchanged for both years, however, as we believe other products (notably Avengers) are performing better than expected this year, but conversely we are more conservative on the prospects for growth in Boys’ toys next year.”
Hasbro shares were unchanged in premarket trading Friday.
The Bottom Line
We have been recommending shares of Hasbro (HAS) since Feb.3, when the stock was trading at $35.14. The company has a 4.16% dividend yield, based on last night’s closing stock price of $34.59.
Hasbro, Inc. (HAS) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.