Hasbro Inc | $HAS Stock | Shares Slip Following Downbeat Guidance

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Hasbro

Hasbro Inc (NASDAQ: HAS)

 

On Monday before the market opened, shares of Hasbro Inc. slipped following downbeat guidance for Q4 despite posting strong Q3 earnings results.

The company posted earnings per share of $2.09 versus $1.93 estimates from analysts along with revenues of $1.79 billion compared to estimates of $1.78 billion.

$HAS beat across the board but issued soft guidance which has spooked investors and pushed shares lower in the pre-market session.

HAS Technicals

Shares of $HAS have been beaten down since their last earnings release in July with shares on a steady downtrend from $116.20 to recent lows of $91.57. Prices are currently trading in the $94.30 range, which is a 4% gap down from Friday’s close at $98.19.

Look for shares to be active today with increased volume and range as traders look to take advantage of the volatility. We should see support come in at $91.57 followed up by $90 and $88. Resistance will be met at $96 followed by $98.

Hasbro Profile

Hasbro, Inc. engages in the provision of children and family leisure time products and services with a portfolio of brands and entertainment properties. The company operates under the brand names such as Littlest Pet Shop; Magic: The Gathering; Monopoly; My Little Pony; Nerf; Play-Doh; and Transformers.

It operates through the following segments: United States and Canada, International, and Entertainment and Licensing. The United States and Canada segment refers to the marketing and sale of products in the United States and Canada which include the innovation and reinvention of toys and games.

The International segment the marketing and sale of their product categories to retailers and wholesalers in most countries in Europe, Latin and South America, and the Asia Pacific region and through distributors in those countries where there is no direct presence.

The Entertainment and Licensing segment refers to the consumer products licensing, digital gaming, television, and movie entertainment operations of the company. The company was founded by Henry Hassenfeld and Hilal Hassenfeld in 1923 and is headquartered in Pawtucket, RI. –Marketwatch

 

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