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The 'Girly' Reason Why Hasbro (HAS) is Surging After Earnings
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On Monday, shares of toymaker Hasbro Inc. (HAS - Free Report) are surging, up almost 15% in morning trading after the company reported strong fourth-quarter fiscal 2016 earnings results.
Hasbro posted earnings of $1.64 per share, beating the Zacks Consensus Estimate of $1.28 and increasing nearly 18% year-over-year (investors should note this number excludes 12 cents from non-recurrint items). Net revenues came in at $1.63 billion, also surpassing the Zacks Consensus Estimate of $1.51 billion and soaring 11% from the prior-year period.
One of the biggest surprises of Hasbro’s earnings report was the revenue it generated from its Girls category, which includes the Disney (DIS - Free Report) princess line of dolls; sales here grew a whopping 52% in 2016 to a record $1.19 billion. Global sales of its board games rose 11%, thanks to demand for its franchise brand Magic: The Gathering as well as Pie Face. Its Boys and Preschool segments, however, saw revenues decline during Q4, down 3% and 4%, respectively.
"We are well positioned for a successful 2017 and the continued advancement of Hasbro's brand-building capabilities for years to come," Brian Goldner, Hasbro's chairman, president and CEO said in a press release.
Hasbro’s board of directors also announced an 11.8% increase in the company’s quarterly dividend, from 51 cents to 57 cents per share, payable on May 15, 2017 to shareholders of record as of May 1, 2017. This adds up to an annual dividend of $2.28 per share, representing a dividend yield of nearly 3%.
Currently, HAS is a #3 (Hold) on the Zacks Rank, and has gained about 11.5% over the past one year.
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The 'Girly' Reason Why Hasbro (HAS) is Surging After Earnings
On Monday, shares of toymaker Hasbro Inc. (HAS - Free Report) are surging, up almost 15% in morning trading after the company reported strong fourth-quarter fiscal 2016 earnings results.
Hasbro posted earnings of $1.64 per share, beating the Zacks Consensus Estimate of $1.28 and increasing nearly 18% year-over-year (investors should note this number excludes 12 cents from non-recurrint items). Net revenues came in at $1.63 billion, also surpassing the Zacks Consensus Estimate of $1.51 billion and soaring 11% from the prior-year period.
One of the biggest surprises of Hasbro’s earnings report was the revenue it generated from its Girls category, which includes the Disney (DIS - Free Report) princess line of dolls; sales here grew a whopping 52% in 2016 to a record $1.19 billion. Global sales of its board games rose 11%, thanks to demand for its franchise brand Magic: The Gathering as well as Pie Face. Its Boys and Preschool segments, however, saw revenues decline during Q4, down 3% and 4%, respectively.
"We are well positioned for a successful 2017 and the continued advancement of Hasbro's brand-building capabilities for years to come," Brian Goldner, Hasbro's chairman, president and CEO said in a press release.
Hasbro’s board of directors also announced an 11.8% increase in the company’s quarterly dividend, from 51 cents to 57 cents per share, payable on May 15, 2017 to shareholders of record as of May 1, 2017. This adds up to an annual dividend of $2.28 per share, representing a dividend yield of nearly 3%.
Currently, HAS is a #3 (Hold) on the Zacks Rank, and has gained about 11.5% over the past one year.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>