Analyst Consensus ?
ConsensusBuy31 ratings
Bullish1651.6%
Neutral1548.4%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Hasbro, Inc. · HAS · FY2026 Q3 · Calendar Q4 2026
Hasbro raises guidance as Magic and margins drive record profitability
The supplied transcript analysis supports the view that Hasbro's earnings growth is being reinforced by Magic demand, licensing expansion, improved Consumer Products margins and cost productivity. The key test is whether Wizards momentum and margin gains remain durable as Q4 timing, royalties, marketing spending and digital-title amortization create pressure.
Reported Before market openNASDAQConsumer Cyclical
$13.89B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.86
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $1.48B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+5.8%
Event window
SPY move
+0.5%
Same window
Abnormal move
+5.3%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
HASSPY benchmark
Ask FN2 about HAS FY2026 Q3
Transcript, numbers and history already loaded
What drove HAS's +5.8% move after FY2026 Q3 earnings?What changed in HAS's guidance and outlook in FY2026 Q3?Give me the bull and bear case for HAS after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, Hasbro's reported narrative strengthened: revenue growth was described at 15%, adjusted operating profit rose 52%, Magic revenue exceeded $600 million, and full-year revenue growth guidance moved from 5%-7% to 7%-9%. Management also emphasized a larger digital-game pipeline, broader licensing expansion, declining capex and a $400 million annual share-repurchase program.
Guidance delta
Management raised full-year revenue growth guidance to 7%-9% from the prior quarter's 5%-7% range and provided adjusted EBITDA guidance of $1.575-$1.625 billion.
Key takeaways
- The transcript analysis describes record profitability, with revenue up 15% year over year and adjusted operating profit up 52%.
- Magic: The Gathering revenue exceeded $600 million and grew 34% year over year, supported by new-player growth, IP collaborations and broader distribution.
- Consumer Products margin improved with cost productivity, tariff refunds and strong Marvel product performance.
- Management outlined continued investment in digital gaming and licensing while planning lower capital expenditure.
Management priorities
- Scale Magic production capacity and retail distribution.
- Launch the 2027 Magic tentpole-set slate and develop the Exodus and Warlock digital pipeline.
- Expand licensing across Legend of Zelda, Harry Potter, Star Trek and Marvel-related properties.
- Continue cost productivity initiatives and capital returns, including the increased share-repurchase program.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$106.54Current
$64Low
$96.66Average
$123High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 20, 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 |
|---|---|---|---|---|
| Citigroup | Buy | Buy | Maintain | Oct 13, 2026 |
| 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 |
| 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 $106.54. 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 | -15.5% | Aug 20, 2026 |
| UBS | Arpine Kocharyan | $120 | $89.3 | +12.6% | Jul 27, 2026 |
| D.A. Davidson | Analyst unavailable | $95 | $88.09 | -10.8% | Jul 22, 2026 |
| Jefferies | Analyst unavailable | $110 | $81.76 | +3.2% | Jul 16, 2026 |
| UBS | Arpine Kocharyan | $110 | $84.72 | +3.2% | Jun 18, 2026 |
| Wells Fargo | Analyst unavailable | $85 | $83.54 | -20.2% | Jun 9, 2026 |
| Wells Fargo | Anthony Bonadio | $92 | $88.6 | -13.6% | May 21, 2026 |
| Morgan Stanley | Analyst unavailable | $123 | $96.73 | +15.4% | May 14, 2026 |
| Morgan Stanley | Megan Alexander Clapp | $122 | $96.56 | +14.5% | Apr 24, 2026 |
| Argus Research | Christine Dooley | $105 | $95.11 | -1.4% | Mar 13, 2026 |
| Morgan Stanley | Analyst unavailable | $119 | $106.35 | +11.7% | Feb 11, 2026 |
| Roth Capital | Analyst unavailable | $120 | $105.25 | +12.6% | Feb 11, 2026 |
| D.A. Davidson | Analyst unavailable | $110 | $104.44 | +3.2% | Feb 11, 2026 |
| Goldman Sachs | Stephen Laszczyk | $114 | $104 | +7.0% | Feb 11, 2026 |
| Roth Capital | Analyst unavailable | $105 | $96.4 | -1.4% | Feb 4, 2026 |
| Morgan Stanley | Analyst unavailable | $103 | $90.47 | -3.3% | Feb 2, 2026 |
| UBS | Analyst unavailable | $99 | $87.06 | -7.1% | Jan 7, 2026 |
| Morgan Stanley | Megan Alexander | $94 | $81.55 | -11.8% | Dec 14, 2025 |
| Morgan Stanley | Analyst unavailable | $87 | $79.25 | -18.3% | Oct 24, 2025 |
| Roth Capital | Eric Handler | $96 | $77.94 | -9.9% | Oct 24, 2025 |
| Goldman Sachs | Michael Ng | $85 | $73.82 | -20.2% | Jun 30, 2025 |
| D.A. Davidson | Keegan Cox | $75 | $65.21 | -29.6% | May 14, 2025 |
| CFRA | Zachary Warring | $90 | $66.1 | -15.5% | Oct 24, 2024 |
| Bank of America Securities | Alexander Perry | $95 | $71.57 | -10.8% | Oct 15, 2024 |
| Bank of America Securities | Jason Haas | $90 | $68.73 | -15.5% | Sep 16, 2024 |
| Morgan Stanley | Megan Alexander | $79 | $62.05 | -25.8% | Jul 26, 2024 |
| CFRA | Zachary Warring | $72 | $61.52 | -32.4% | Jul 25, 2024 |
| Morgan Stanley | Megan Alexander | $77 | $65.03 | -27.7% | Apr 24, 2024 |
| Stifel Nicolaus | Drew Crum | $67 | $55.8 | -37.1% | Apr 15, 2024 |
| CFRA | Zachary Warring | $59 | $55.85 | -44.6% | Apr 4, 2024 |
| Stifel | Drew Crum | $64 | $53.31 | -39.9% | Mar 15, 2024 |
| D.A. Davidson | Linda Bolton Weiser | $80 | $52.06 | -24.9% | Apr 5, 2023 |
| MKM Partners | Analyst unavailable | $80 | $65.36 | -24.9% | Jan 13, 2023 |
| BMO Capital | Analyst unavailable | $66 | $61.95 | -38.1% | Jan 4, 2023 |
| Stifel Nicolaus | Drew Crum | $84 | $68.42 | -21.2% | Oct 5, 2022 |
| BMO Capital | Analyst unavailable | $80 | $81.31 | -24.9% | Jul 21, 2022 |
| Truist Financial | Analyst unavailable | $88 | $80.57 | -17.4% | Jul 20, 2022 |
| Jefferies | Analyst unavailable | $100 | $78.32 | -6.1% | Jul 15, 2022 |
| MKM Partners | Analyst unavailable | $105 | $82.58 | -1.4% | Jul 7, 2022 |
| Jefferies | Stephanie Wissink | $115 | $91.84 | +7.9% | May 3, 2022 |
| D.A. Davidson | Linda Bolton Weiser | $128 | $87.93 | +20.1% | Apr 25, 2022 |
| KeyBanc | Brett Andress | $105 | $88.86 | -1.4% | Apr 20, 2022 |
| Goldman Sachs | Michael Ng | $100 | $87.02 | -6.1% | Apr 19, 2022 |
| Jefferies | Matthew Catton | $120 | $92.29 | +12.6% | Feb 8, 2022 |
| Truist Financial | Michael Swartz | $100 | $93.22 | -6.1% | Oct 27, 2021 |
| Bank of America Securities | Devin Brisco | $110 | $99.22 | +3.2% | 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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GM General Motors Company | FY2026 Q3 · Calendar Q4 2026 | — | -7.3% | GM raises 2027 targets as trucks, software and defense drive growth |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-10-20T16:07:01.252513+00:00
- FN2 earnings calendar · 2026-10-20T01:23:14.154112+00:00
- Polygon adjusted daily market bars · 2026-10-20T16:10:44.359279+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-20T16:10:44.356596+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 2026-10-20. For educational purposes only; not investment advice.