Hasbro Misses by a Penny

The Zacks #3 Rank ("Hold") stock has declined over 3% today amid volume of 1.8 million. Average volume is around 2.1 million.

Sales during the quarter fell 12% to $621.3 million, as reduced discretionary spending by customers, a stronger dollar and lower inventories at retailers affected performance.

In terms of segments, the US and Canada segment sales decreased 6% year-over-year, while the international segment contracted 24%.

Hasbro, however, expects better results in the coming quarters, driven by the releases of 3 films: Transformers: Revenge of The Fallen, G.I. Joe: Rise of Cobra and X-Men Origins: Wolverine.

The full-year consensus estimate is down 2 cents over the past 60 days to $2.09 per share.

Read the full analyst report on HAS