Analyst Consensus ?
ConsensusBuy31 ratings
Bullish1651.6%
Neutral1548.4%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Hasbro, Inc. · HAS · FY2025 Q2 · Calendar Q3 2025
Hasbro raises guidance as Magic growth offsets tariff pressure
The quarter supports a constructive but conditional view: Magic, licensing, digital gaming, and cost transformation are supporting growth and raised guidance, while tariffs, Consumer Products weakness, inventory timing, and execution remain material offsets.
Reported Before market openNASDAQConsumer Cyclical
$13.16B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.30
Consensus $0.78
EPS surprise
+66.7%
Reported versus consensus
Reported revenue
$980.8M
Consensus $1.30B
Revenue surprise
-24.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.9%
Event window
SPY move
+0.9%
Same window
Abnormal move
-1.8%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
+3.7%
Up to 20 sessions
HASSPY benchmark
Ask FN2 about HAS FY2025 Q2
Transcript, numbers and history already loaded
Why did HAS fall 0.9% after beating EPS estimates in FY2025 Q2?What changed in HAS's guidance and outlook in FY2025 Q2?Give me the bull and bear case for HAS after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior analysis, guidance sentiment moved from maintained to raised. The current analysis adds stronger Magic and Wizards performance, a 16% Consumer Products decline tied to tariff-related ordering shifts, $98 million of realized savings, and a $1 billion non-cash goodwill impairment.
Guidance delta
Management raised full-year 2025 guidance for revenue, adjusted operating margin to 22–23%, and adjusted EBITDA to $1.17–$1.20 billion.
Key takeaways
- Magic: The Gathering was the primary growth engine, with 23% year-over-year revenue growth and a 40% increase in unique organized-play players.
- Wizards of the Coast delivered 16% revenue growth and a 46.3% operating margin.
- Consumer Products sales declined 16% amid tariff-driven order timing; management expects recovery in Q3 and Q4 as retailers restock for the holidays.
- Cost-transformation initiatives generated $98 million of savings, with a $175–$225 million annual target.
- A $1 billion non-cash goodwill impairment was recorded in Consumer Products.
Management priorities
- Launch Exodus in the second half of 2026.
- Release upcoming Magic sets tied to Edge of Attorneys, Marvel's Spider-Man, and Avatar: The Last Airbender.
- Deliver the Giant Skull Dungeons & Dragons action-adventure title later this year.
- Continue cost-saving programs targeting $175–$225 million in annual gross savings.
- Maintain debt reduction, dividend stability, and share repurchases.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$93.32Current
$64Low
$96.66Average
$123High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 10, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Aug 20, 2026 |
| Argus Research | Buy | Buy | Maintain | Jul 23, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 22, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Jul 22, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 16, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 16, 2026 |
| BNP Paribas | Outperform | Outperform | Maintain | Jul 15, 2026 |
| Roth Capital | Buy | Buy | Maintain | Jul 14, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 10, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | May 14, 2026 |
| UBS | Buy | Buy | Maintain | Mar 5, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 11, 2026 |
| Roth MKM | Buy | Buy | Maintain | Feb 21, 2025 |
| Stifel | Buy | Buy | Maintain | Jan 3, 2025 |
| MKM Partners | Buy | Buy | Maintain | Jan 13, 2023 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jan 4, 2023 |
| Truist Securities | Hold | Hold | Maintain | Oct 5, 2022 |
| Keybanc | Overweight | Downgrade | Jul 13, 2022 | |
| Consumer Edge Research | Equal Weight | Overweight | Downgrade | Jun 9, 2020 |
| Barclays | Overweight | Overweight | Maintain | May 4, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Apr 30, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Oct 1, 2019 |
| Argus | Hold | Buy | Downgrade | Apr 25, 2019 |
| Monness, Crespi, Hardt | Neutral | Buy | Downgrade | Jul 24, 2018 |
| Monness Crespi Hardt | Neutral | Buy | Downgrade | Jul 24, 2018 |
| B. Riley Securities | Buy | Buy | Maintain | Jul 24, 2018 |
| B. Riley FBR | Buy | Buy | Maintain | Jul 24, 2018 |
| PiperJaffray | Neutral | Overweight | Downgrade | Nov 28, 2016 |
| Piper Sandler | Neutral | Overweight | Downgrade | Nov 28, 2016 |
| Oppenheimer | Perform | Perform | Maintain | Aug 20, 2015 |
| Needham | Hold | Buy | Downgrade | Apr 4, 2014 |
| Sterne Agee | Neutral | Buy | Downgrade | Feb 15, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $93.32. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Anthony Bonadio | $90 | $93.33 | -3.6% | Aug 20, 2026 |
| UBS | Arpine Kocharyan | $120 | $89.3 | +28.6% | Jul 27, 2026 |
| D.A. Davidson | Analyst unavailable | $95 | $88.09 | +1.8% | Jul 22, 2026 |
| Jefferies | Analyst unavailable | $110 | $81.76 | +17.9% | Jul 16, 2026 |
| UBS | Arpine Kocharyan | $110 | $84.72 | +17.9% | Jun 18, 2026 |
| Wells Fargo | Analyst unavailable | $85 | $83.54 | -8.9% | Jun 9, 2026 |
| Wells Fargo | Anthony Bonadio | $92 | $88.6 | -1.4% | May 21, 2026 |
| Morgan Stanley | Analyst unavailable | $123 | $96.73 | +31.8% | May 14, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $122 | $96.56 | +30.7% | Apr 24, 2026 |
| Argus Research | Christine Dooley | $105 | $95.11 | +12.5% | Mar 13, 2026 |
| Morgan Stanley | Analyst unavailable | $119 | $106.35 | +27.5% | Feb 11, 2026 |
| Roth Capital | Analyst unavailable | $120 | $105.25 | +28.6% | Feb 11, 2026 |
| D.A. Davidson | Analyst unavailable | $110 | $104.44 | +17.9% | Feb 11, 2026 |
| Goldman Sachs | Stephen Laszczyk | $114 | $104 | +22.2% | Feb 11, 2026 |
| Roth Capital | Analyst unavailable | $105 | $96.4 | +12.5% | Feb 4, 2026 |
| Morgan Stanley | Analyst unavailable | $103 | $90.47 | +10.4% | Feb 2, 2026 |
| UBS | Analyst unavailable | $99 | $87.06 | +6.1% | Jan 7, 2026 |
| Morgan Stanley | Megan Alexander | $94 | $81.55 | +0.7% | Dec 14, 2025 |
| Morgan Stanley | Analyst unavailable | $87 | $79.25 | -6.8% | Oct 24, 2025 |
| Roth Capital | Eric Handler | $96 | $77.94 | +2.9% | Oct 24, 2025 |
| Goldman Sachs | Michael Ng | $85 | $73.82 | -8.9% | Jun 30, 2025 |
| D.A. Davidson | Keegan Cox | $75 | $65.21 | -19.6% | May 14, 2025 |
| CFRA | Zachary Warring | $90 | $66.1 | -3.6% | Oct 24, 2024 |
| Bank of America Securities | Alexander Perry | $95 | $71.57 | +1.8% | Oct 15, 2024 |
| Bank of America Securities | Jason Haas | $90 | $68.73 | -3.6% | Sep 16, 2024 |
| Morgan Stanley | Megan Alexander | $79 | $62.05 | -15.3% | Jul 26, 2024 |
| CFRA | Zachary Warring | $72 | $61.52 | -22.8% | Jul 25, 2024 |
| Morgan Stanley | Megan Alexander | $77 | $65.03 | -17.5% | Apr 24, 2024 |
| Stifel Nicolaus | Drew Crum | $67 | $55.8 | -28.2% | Apr 15, 2024 |
| CFRA | Zachary Warring | $59 | $55.85 | -36.8% | Apr 4, 2024 |
| Stifel | Drew Crum | $64 | $53.31 | -31.4% | Mar 15, 2024 |
| D.A. Davidson | Linda Bolton Weiser | $80 | $52.06 | -14.3% | Apr 5, 2023 |
| MKM Partners | Analyst unavailable | $80 | $65.36 | -14.3% | Jan 13, 2023 |
| BMO Capital | Analyst unavailable | $66 | $61.95 | -29.3% | Jan 4, 2023 |
| Stifel Nicolaus | Drew Crum | $84 | $68.42 | -10.0% | Oct 5, 2022 |
| BMO Capital | Analyst unavailable | $80 | $81.31 | -14.3% | Jul 21, 2022 |
| Truist Financial | Analyst unavailable | $88 | $80.57 | -5.7% | Jul 20, 2022 |
| Jefferies | Analyst unavailable | $100 | $78.32 | +7.2% | Jul 15, 2022 |
| MKM Partners | Analyst unavailable | $105 | $82.58 | +12.5% | Jul 7, 2022 |
| Jefferies | Stephanie Wissink | $115 | $91.84 | +23.2% | May 3, 2022 |
| D.A. Davidson | Linda Bolton Weiser | $128 | $87.93 | +37.2% | Apr 25, 2022 |
| KeyBanc | Brett Andress | $105 | $88.86 | +12.5% | Apr 20, 2022 |
| Goldman Sachs | Michael Ng | $100 | $87.02 | +7.2% | Apr 19, 2022 |
| Jefferies | Matthew Catton | $120 | $92.29 | +28.6% | Feb 8, 2022 |
| Truist Financial | Michael Swartz | $100 | $93.22 | +7.2% | Oct 27, 2021 |
| Bank of America Securities | Devin Brisco | $110 | $99.22 | +17.9% | Jul 27, 2021 |
Track every rating change on HAS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationHasbro, Inc., alongside its various subsidiaries, operates as a global leader in the play and entertainment industry. Its Consumer Products segment focuses on the procurement, marketing, and global distribution of toys and games. This division further amplifies its brands by out-licensing trademarks, characters, and intellectual property rights to third parties, enabling the creation and sale of a diverse range of branded consumer goods, such as apparel and toys. Its extensive product catalog encompasses action figures, arts and crafts supplies, fashion dolls and other figurines, playsets, preschool toys, plush items, sports-action blasters and accessories, toy vehicles, and specialty play items, in addition to various traditional games. The company also offers licensed merchandise spanning apparel, publishing, home goods, electronics, and toy products.…
Historical context
All HAS earningsConsumer Cyclical peers this season
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| LEN Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | -4.1% | Lennar Holds Volume Guidance as Margins Improve Despite Housing Headwinds |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-10T16:30:44.667584+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-10T16:30:44.664614+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-10. For educational purposes only; not investment advice.