Children’s toy company Hasbro (HAS) saw its HAS stock dip after its Q4 earnings missed analyst expectations.
Adjusted earnings were $148.8 million ($1.12 per share), compared to $157.4 million ($1.20 per share) from last year. The average analyst expectations on earnings per share were $1.22.
The company had revenue of $1.28 billion for the quarter, compared to the analyst average estimate of $1.30 billion.
On Monday the toy company reported lower-than-expected quarterly results based on poor North American sales during the holidays.
Shares were down more than 3% in the morning.
The latest U.S. holiday sales turned out to be among the weakest since 2008, when the U.S.economy was reeling from a recession. Bad weather, limited discretionary dollars for many shoppers and six fewer days between Thanksgiving and Christmas in 2013 hurt results for many companies.
Even toy industry leader Mattel Inc missed analysts’ expectations in the quarter covering the key selling season.
Hasbro has been hit by downgrades on a number of fronts recently.
The company currently has an average rating of “Hold” and an average price target of $52.38. McLean Capital Management downgraded HAS shares from a “buy” to a “neutral” rating at the end of January. One equities research analyst rated HAS stock with a sell rating; seven issued a “hold.”
At the same time, four others gave a buy rating to the company.
HAS stock is up 8.9% year to date.
