Why Hasbro Stock Popped Today
Shares of toy and game company (NASDAQ: HAS) popped on Wednesday after it reported financial results for the first quarter of 2024. As of 1 p.m. ET today, Hasbro stock was up almost 11%.
In December, Hasbro sold much of its film and TV properties to Lions Gate for $375 million, which was used to pay down debt. This divestiture is a big reason that the company's revenue was down 24% year over year to $757 million.
However, even without selling this part of the business, financial results were slow. The company's key consumer products segment had a 21% drop in revenue mostly related to lower sales volume.
Source Fool.com
Hasbro Inc. Stock
€55.28
0.990%
With 13 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 67 € there is a positive potential of 21.2% for Hasbro Inc. compared to the current price of 55.28 €.
