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Hasbro

Hasbro is a branded play company providing children and families around the world with entertainment offerings based on a world-class brand portfolio. From toys and games to television programming, motion pictures, and a licensing program, Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and Magic: The Gathering. Ownership stakes in Discovery Family, which offers programming around Hasbro brands, and production capabilities has helped bolster Hasbro's multichannel presence. The firm acquired EOne in 2019, bolting on popular family properties like Peppa Pig and PJ Masks, and since has pruned noncore lines from the tie-up. Furthermore, the addition of Dungeons & Dragons Beyond in 2022, offers the firm access to 19 million digital tabletop players.

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Hasbro shares are trading higher. The stock may be reacting to an Elon Musk response on X where he enquired about the purchase price of the company.

President-elect Donald Trump has proposed <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">implementing significant tariffs</a>, including 25% on imports from Mexico and Canada, and an additional 10% on goods from China.
For investors, this could mean a return to the trade-war trenches of 2019, but this time, the stakes are higher and the economic backdrop shakier.
JPMorgan analyst Christopher Horvers is sounding the alarm, pointing out that the tariff squeeze might be harder to absorb now than during the first tariff spat. With inflation already a sore spot for consumers, the retail and manufacturing sectors could find themselves in a pricing power pickle.
Here's where the pressure is highest and how it could influence stock movements.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">Goldman Sachs Expects Major Selloffs In Canadian Dollar, Mexican Peso, Says Trump Tariffs Threaten USMCA Agreement</a>
<h2 class="wp-block-heading">Electronics, Toys, Furnishings: Tariff Trouble Zones</h2>
The &#8220;Made in China&#8221; label isn&#8217;t just a tagline; it's a linchpin for sectors like electronics, toys, and home furnishings. According to Horvers, consumer electronics, with names like Best Buy Co Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NASDAQ">BBY</a>) sourcing as much as 60% from China, are sitting ducks. Similarly, the toy giants Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) and Mattel Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) have 50% of U.S. revenues tied to China-made goods. 
Retailers like Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), who dominate 40% of the U.S. toy market, could pass price hikes to consumers, but only up to a certain limit.
Meanwhile, home furnishings players like RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) and Williams-Sonoma Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), already battling tighter margins, could see additional pain. 
In fragmented industries like these, pricing power is weak, and any added costs could disrupt consumer demand or erode profits.
<h2 class="wp-block-heading">Autoparts: High Import, But Stronger Shields</h2>
Auto parts, with high import exposure (e.g., 45% for AutoZone Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/azo#NYSE">AZO</a>)), might appear vulnerable. However, Horvers suggests this sector wields strong pricing power, which should buffer against margin compression. 
Unlike toys or electronics, auto parts are essential purchases—there's no skipping that brake replacement or battery swap.
<h2 class="wp-block-heading">Grocery Stores: Low Risk, High Resilience</h2>
The grocery sector seems to have drawn the long straw. With low import exposure and robust pricing power, players like BJ's Wholesale Club Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) and Costco Wholesale Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) are largely insulated. Their domestic sourcing and needs-based demand make this category a tariff-resistant fortress, according to the analyst.
<h2 class="wp-block-heading">2024 Vs. 2019: Less Pricing Power, More Shared Pain</h2>
The tariffs of 2019 were painful but manageable. This time around, Horvers warns, things could be different. Consumers have already endured price hikes on essentials since 2020, leaving retailers and manufacturers with less room to maneuver. Big-ticket discretionary items, such as appliances or furniture, might see a sharper dip in unit sales as buyers balk at higher price tags.
Adding to the complexity, tariffs this time appear more politically charged. Horvers believes imposing significant consumer-facing price shocks could backfire, especially with inflation shaping voter sentiment. This was evident in 2019 when tariffs on consumer goods were retracted to avoid such fallout.
<h2 class="wp-block-heading">What Investors Should Watch</h2>
If tariffs take hold, shared pain across manufacturers, retailers, and consumers will be the name of the game. 
Investors should monitor pricing strategies, margin resilience, and unit sales in the affected sectors. Stocks with diversified sourcing, strong pricing power, or essential demand are better positioned to weather the storm.
Trump's tariff 2.0 might be a high-stakes negotiation tactic, but for stocks exposed to discretionary imports, it's a risk that can't be ignored. 
As trade tensions escalate, investors are questioning not only who bears the cost of tariffs but also how long consumers can endure higher prices before they stop spending altogether.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/42058282/trumps-tariffs-could-have-severe-consequences-for-us-defense-sector-beijing-adviser-warns">Trump&#8217;s Tariffs Could Have &#8216;Severe Consequences&#8217; For US Defense Sector, Beijing Adviser Warns</a></li>
</ul>
Photo by Khanthachai C on Shutterstock

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Trump's Tariff Plan Targets Imports: Electronics, Retail Stocks At Risk

President-elect Donald Trump has announced plans to impose a 25% tariff on all products from Mexico and Canada in response to the ongoing border crisis, stirring economic concerns.
What Happened: Trump took to Truth Social on Monday, to express his concern over the increasing number of people crossing the borders from Mexico and Canada into the United States. He described the situation as an &#8220;invasion&#8221; and blamed it for rising crime and drug levels.
Trump stated that he would sign an executive order on the first day of his administration to impose a 25% tariff on all products entering the U.S. from Mexico and Canada. He added that the tariff would remain in effect until the drug and illegal immigration issues are resolved. &#8220;Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!&#8221; Trump criticized China for failing to curb the flow of fentanyl into the U.S. despite promises of harsh penalties for drug dealers. He claimed the drugs, largely entering through Mexico, are at unprecedented levels, announcing a 10% tariff hike on Chinese imports, above any additional tariffs, until the issue is addressed. &#8220;Thank you for your attention to this matter,&#8221; he said in a separate post.
See Also: <a href="https://www.benzinga.com/general/health-care/24/11/42077935/trump-picks-dr-oz-who-says-seniors-should-give-medical-marijuana-a-try-to-lead-centers-for-medicare-and-medicaid-services?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Picks Dr. Oz, Who Says Seniors Should Give Medical Marijuana A Try, To Lead Centers For Medicare And Medicaid Services</a>
Why It Matters: Trump&#8217;s proposed tariffs have <a href="https://www.benzinga.com/government/regulations/24/11/42058282/trumps-tariffs-could-have-severe-consequences-for-us-defense-sector-beijing-adviser-warns">raised concerns</a> among economists and industry experts. Ding Yifan, a researcher at China&#8217;s State Council's Development Research Center, warned that such tariffs could significantly impact the U.S. economy, particularly the defense sector.
Moreover, a&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">Goldman Sachs economist</a>&nbsp;predicted that a universal tariff could push inflation back to 3%, complicating the Federal Reserve&#8217;s efforts to keep inflation at 2%.
Renowned economist Mohamed El-Erian also <a href="https://www.benzinga.com/government/regulations/24/11/42058282/trumps-tariffs-could-have-severe-consequences-for-us-defense-sector-beijing-adviser-warns">cautioned against oversimplifying</a> Trump&#8217;s tariff strategies, emphasizing that the issue is complex and requires a nuanced analysis. While Trump&#8217;s tariff proposals are likely to hurt companies with international supply chains, others like those in the software or entertainment industry like Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) that don&#8217;t sell physical products are likely to <a href="https://www.benzinga.com/trading-ideas/24/11/42144357/5-stocks-to-buy-before-tariffs-kick-in">remain protected</a> from any negative impact. Companies that have reliable production units outside China are also likely to benefit, these include names like AutoZone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) and Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>).
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Trump Says He Will Impose 25% Tariffs On Canada, Mexico On First Day Of Office And Extra Tariffs On China Until They 'Pay Attention'

Larian Studios, the developer of Baldur's Gate 3, achieved significant financial success in 2023, as revealed by newly published records from its Dublin-based holding <a href="https://www.benzinga.com/general/gaming">company. </a>
The studio reported a pre-tax profit of 249 million euros (approximately $260.9 million) and total revenue of 427 million euros, largely driven by the release of Baldur's Gate 3 in August.
See Also: <a href="https://www.benzinga.com/general/gaming/24/11/42121273/baldurs-gate-3-sees-more-players-in-2024-than-during-launch-year-heres-why">Baldur&#8217;s Gate 3 Sees More Players In 2024 Than During Launch Year: Here&#8217;s Why</a>
This marks a substantial turnaround from Larian's 2022 financial performance, which saw 22.7 million euros in revenue and a loss of 214,000 euros. The success of Baldur's Gate 3 has not only bolstered the studio's financial standing but also established the game as a major player in the RPG market.
<h1 class="wp-block-heading">Sales and Licensing Revenue</h1>
Although Larian did not disclose exact sales figures for the game, a <a href="https://www.independent.ie/business/irish/dublin-firm-behind-baldurs-gate-game-posts-249m-profit-after-runaway-success/a2033961431.html">report</a> from the Irish Independent estimates it sold around 15 million copies by the end of 2023.
This aligns with earlier statements from publishing director Michael Douse, who noted sales exceeding 10 million. Additionally, Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>), the parent company of Dungeons &amp; Dragons owner Wizards of the Coast, confirmed the game generated $90 million in licensing revenue.
The game's popularity continued into 2024, with Douse reporting a 20% increase in daily active users compared to the previous year, supported by ongoing interest in community-created mods.
<h1 class="wp-block-heading">Future Plans and Ownership</h1>
Larian CEO Swen Vincke pointed out the studio's strengthened position in a September<a href="https://www.ign.com/articles/baldurs-gate-3-one-year-later-larian-interview"> interview</a> with IGN, stating that Larian is now able to "pick our own destiny and our own path." Rather than developing DLC or a sequel for Baldur's Gate 3, the company plans to focus on new original projects.
Despite Vincke's majority ownership of Larian's ordinary shares, the Irish Independent reported that Chinese tech company Tencent Holdings ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) holds a significant share of preference stock through its Tencent Cloud Europe division.
<h1 class="wp-block-heading">Global Development and Growth</h1>
Larian employed a "follow the sun" development approach for Baldur's Gate 3, utilizing its network of studios across cities such as Dublin, Ghent, Kuala Lumpur and Quebec to maintain round-the-clock production. This method, combined with the game's success, has elevated Larian's profile within the industry.
While Larian has a history of well-regarded titles, such as Divinity: Original Sin, the success of Baldur's Gate 3 represents a new level of commercial achievement for the studio.
Read Next:
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<li><a href="https://www.benzinga.com/general/gaming/24/11/42144628/gta-6-trailer-2-fans-frustrated-as-rockstar-possibly-breaks-moon-theory">GTA 6 Trailer 2 Fans Frustrated As Rockstar Possibly Breaks Moon Theory</a></li>
</ul>
Photo: Shutterstock.

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How Baldur's Gate 3 Turned Larian Studios Into A $447 Million Powerhouse

<h3 class="wp-block-heading">New On The Block</h3>
<ul>
<li>Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) is looking to sell a stake in its Chinese operations. Same-store sales in China fell 14% last quarter, with the Seattle-based coffee retailer seeking partnerships to adapt to tough <a href="https://www.benzinga.com/news/asset-sales/24/11/42117962/starbucks-eyes-stake-sale-in-china-amid-fierce-competition-and-falling-sales">economic and competitive pressures</a>.</li>
</ul>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
<ul>
<li>Snack producer Hearthside Food Solutions went bankrupt. The private equity-owned company looks to offload the $1.9 billion in debt accumulated under the ownership of Partners Group Holding AG and Charlesbank Capital Partners. The two firms bought Hearthside for more than $2.4 billion. Assets and liabilities hover between $1 billion and $10 billion. Last year, bankrupt private equity portfolio companies in the U.S. <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-portfolio-companies-on-track-for-most-bankruptcies-since-2020-74886821">outpaced</a> the number of <a href="https://www.benzinga.com/news/20/10/17861269/bankruptcy-update-ruby-tuesday-files-chapter-11-while-progress-slows-for-jcpenney">bankruptcies in 2020</a>. It remains to be seen whether 2024 will be worse.</li>
</ul>
<ul>
<li>Northvolt <a href="https://northvolt.com/articles/peter-carlsson-steps-aside/">filed</a> for bankruptcy with debt of $5.8 billion. Recall how the Swedish battery maker, which supplies Volkswagen AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and&nbsp;Bayerische Motoren Werke AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), bargained with banks to <a href="https://www.benzinga.com/news/23/03/31506581/volkswagen-bmw-battery-supplier-northvolt-eyes-raising-5b-via-debt">raise debt last year</a>. Now, it&#8217;s hoping to restructure under U.S. Chapter 11.</li>
</ul>
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a>
<h3 class="wp-block-heading">Updates From The Block</h3>
<ul>
<li>Google&#8216;s $2-billion <a href="https://www.benzinga.com/news/large-cap/23/10/35474706/googles-ai-ambitions-grow-with-major-investment-in-openai-rival-anthropic">investment</a> in Anthropic is in jeopardy, according to <a href="https://www.bloomberg.com/news/articles/2024-11-21/us-justice-department-seeks-to-unwind-google-s-anthropic-deal">Bloomberg</a>. Anthropic is a Jeff Bezos-backed rival to artificial intelligence (AI) innovator OpenAI. The U.S. Department of Justice (DOJ) recommended in <a href="https://www.benzinga.com/tech/24/11/42105079/googles-unlawful-behavior-stifles-market-entry-for-rivals-doj-says-alphabet-must-sell-chrome-to-end-search-monopoly">a court filing Wednesday</a> that Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google divest its Chrome browser to dismantle its monopoly on online search. It doesn&#8217;t end there. Google should be barred from doing any deals with companies that control where consumers search for information, regulators say. <a href="https://www.benzinga.com/tech/24/11/42123646/google-anthropic-deal-in-jeopardy-as-us-justice-department-looks-to-snap-online-search-monopoly">That includes AI products</a>.</li>
</ul>
<ul>
<li>Ricky Williams&#8216; Highsman merges with hemp brand Frozen Fields, forming Top Seed Inc. The partnership blends cannabis and hemp sectors, leveraging R&amp;D to enhance products <a href="https://www.benzinga.com/markets/cannabis/24/11/42097662/ricky-williams-highsman-merges-with-hemp-brand-frozen-fields">and control supply chains</a>.</li>
</ul>
<ul>
<li>MakeMyTrip acquires Happay from CRED. The deal is expected to enhance corporate travel and expense management solutions in India. Happay&#8217;s team will integrate with MakeMyTrip, supporting <a href="https://www.benzinga.com/general/travel/24/11/42039458/makemytrip-agrees-to-acquire-happay-bolstering-its-arsenal-for-corporate-travel-solutions">over 900 clients post-acquisition</a>.</li>
</ul>
<ul>
<li>Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) and Berry Global Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) agreed to merge in an all-stock transaction, with the deal valuing Berry stock <a href="https://www.benzinga.com/news/large-cap/24/11/42069248/amcor-and-berry-seal-the-deal-73-59-per-share-merger-to-forge-packaging-powerhouse">at $73.59 per share</a>.</li>
</ul>
<ul>
<li>Nippon Steel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) executives have traveled to Pennsylvania to garner support for their $15 billion acquisition bid for U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>). The Japanese steel giant is encountering political resistance in Washington. Takahiro Mori, vice-chair of Nippon Steel, arrived in Pittsburgh on Saturday to advocate for the acquisition. The deal faces opposition from both President Joe Biden and President-elect Donald Trump, who prefer U.S. Steel to <a href="https://www.benzinga.com/markets/24/11/42056111/nippon-steel-execs-rally-support-in-pennsylvania-amid-pushback-on-us-steel-takeover">remain under American ownership</a>.</li>
</ul>
<h3 class="wp-block-heading">Notes From The Block</h3>
Joshua Robinson, co-founder of Darwin Financial Company, announced a $55-million financing deal with INYOAG LLC. The funds will help develop a solar-powered mine in Inyo County, California where there are proven reserves of silver, lead, zinc, tungsten, and copper. Here&#8217;s our conversation with Robinson:
<h4 class="wp-block-heading">BZ: What is the deal structure between Darwin Financial and base metals miner INYOAG? </h4>
Robinson: The deal structure is a $55M project financing package split into three components: $17.5 million and $12.5 million in six-year notes tied to sulfide and oxide production respectively, plus a $20-million conditional equity commitment that only triggers if the mine hits $10 million in monthly revenue. We get 17% of gross revenues from both production tracks, structured through secure lockbox arrangements. It&#8217;s not a straight equity investment, we specifically designed it this way to provide further upside exposure.
<h4 class="wp-block-heading">Are you looking for additional investors/joint venture partners? </h4>
Yes, we&#8217;ve deliberately structured this to create multiple layers of upside potential, which is pretty unique in the mining space. We&#8217;ve created a hybrid model that offers both near-term cash flow from production and significant expansion potential. We&#8217;re already seeing interest from established mining players, but we&#8217;re particularly excited about bringing new investors into the space who understand the strategic value of critical minerals.
<h4 class="wp-block-heading">What are the downsides to depending on foreign sources of critical minerals?</h4>
China&#8217;s recent actions really highlight the urgency here. They&#8217;ve already implemented export controls on germanium and gallium, and just added antimony to that list. This isn&#8217;t theoretical anymore, it&#8217;s actively happening. We need to build regional resilience in our supply chains, particularly for these minerals that are crucial for defense and technology. The Darwin Mine gives us a unique opportunity to establish a domestic source for multiple critical minerals in a single asset, which is rare to find.
<h4 class="wp-block-heading">Will the mine be powered by solar? </h4>
The 100MW facility wouldn&#8217;t just power the mine. It would generate significant excess clean energy that we can sell back to the grid. What&#8217;s particularly interesting is that we can develop utility-scale energy storage systems using minerals we&#8217;re already producing. It creates a virtuous cycle where our mining operations directly support clean energy deployment
<h4 class="wp-block-heading">What are your 2025 goals?</h4>
For 2025, our key goals are reaching 300 tons per day on sulfide production within six months and 200 tons per day on oxide within nine months of funding. That puts us at $ 10 million in monthly revenue, which then triggers the deeper mine development program.
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/ma/24/11/42025534/deal-dispatch-shell-unilever-and-more-are-on-the-sell-side-the-onion-makes-alex-jones-cry-foul">click here</a>.
Now Read: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
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Deal Dispatch: Starbucks Considers China Sale, Private Equity Bankrupts Snack Company, Darwin Financial Talks Mining

Predicting the actions of an incoming administration is always tricky, and that's doubly true for someone with a penchant for saber rattling like Donald Trump. While Trump seems committed to another round of tariffs (especially aimed at Chinese imports), the actual size and scope of these moves remains to be seen.
Many business leaders and executives are preparing for new tariffs by readying consumers for increased costs, and the retail sector could be hit hard if the most protective policies come to fruition.
However, not every company stands to suffer from tariff expansion. Some industries, like domestic shippers and specialty retailers, saw a boost in the wake of the election results.
Here are five stocks that stand to benefit from American tariffs on foreign imports.
<h2 class="wp-block-heading">Methodology&nbsp;</h2>
To find stocks that will benefit from tariffs, we need to look for firms with reliable production alternatives outside China and the ability to pass on extra costs to consumers.
If a company&#8217;s main competitors have high import costs or lack that kind of pricing power, even better.
Let&#8217;s go through the list:
<h2 class="wp-block-heading">AutoZone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>)</h2>
DIY auto store stocks have soared in the post-pandemic era, and the two clear winners have been AutoZone and Oreilly Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>). Both companies have had little issue raising prices during previous tariff implementations, and investors have no reason to assume they won't do the same in the face of the next round.
AutoZone is uniquely positioned to benefit from a higher tariff environment. Even when the first round of tariffs was administered during Trump's initial term, AutoZone still managed to improve its profit margins despite higher costs. Additionally, DIY auto parts stores often hold significant pricing power over consumers since fixing a car is usually a non-negotiable part of life in America (especially in the suburbs). CEO Philip Daniele <a href="https://www.benzinga.com/startups/24/11/42027079/we-will-pass-those-tariff-costs-back-to-the-consumer-says-ceo-of-autozone-heres-a-look-at-other-companies-raising-prices">recently stated</a> that the company intends to pass any tariff increases back onto consumers, which could prompt a flurry of car repair activity before the calendar flips to 2025.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="1365" height="536" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130112/AZO.png" alt="" class="wp-image-661491" style="width:917px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130112/AZO.png 1365w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130112/AZO-300x118.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130112/AZO-1024x402.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130112/AZO-768x302.png 768w" sizes="(max-width: 1365px) 100vw, 1365px" /></figure>
We selected AutoZone over O'Reilly Automotive due to a combination of valuation and analyst ratings. Some of the fundamental valuation factors compared include:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Metric</td>
<td>AZO</td>
<td>ORLY</td>
</tr>
<tr>
<td>Price to Earnings (P/E)</td>
<td>21.18</td>
<td>30.11</td>
</tr>
<tr>
<td>Price to Sales (P/S)</td>
<td>2.99</td>
<td>4.32</td>
</tr>
<tr>
<td>PEG Ratio</td>
<td>1.67</td>
<td>1.89</td>
</tr>
</tbody>
</table>
</figure>
Based on most fundamental metrics, AutoZone is the cheaper stock to own, and analysts seem to agree. Based on reports from 25 different analysts, AZO shares are a consensus Buy, while ORLY is a consensus Hold. AZO&#8217;s three most recent price targets indicate more than 12% upside potential, while recent price targets on ORLY shares indicate only a 4% upside.
<a href="https://www.benzinga.com/premium/ideas/matt-options-inner-circle-checkout-black-friday/?utm_source=WebRD-1122">[OUR BLACK FRIDAY SALE: Copy Trades That Hit Big Gains &#8211; Save $1000]</a>
<h2 class="wp-block-heading">e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>)</h2>
Another company that has previously had success managing trade war battles is e.l.f. Beauty, which sells cosmetic products such as lipstick, eyeliner, foundation, and other skin care products. The company has a solid domestic and international footprint and has products in stores ranging from high-end shops like Ulta Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NYSE">ULTA</a>) to drugstores like Rite-Aid.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="402" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130120/ELF-1024x402.png" alt="" class="wp-image-661492" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130120/ELF-1024x402.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130120/ELF-300x118.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130120/ELF-768x302.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130120/ELF.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
E.l.f. Beauty relies heavily on Chinese imports but remains on our list because CEO Tarang Amin is confident the company has both the pricing power and supply chain infrastructure to withstand any tariffs until 2026. The company informed customers back in August to expect prices to increase during a potential 2nd Trump term, which could increase sales in the short term as shoppers stock up on their favorite products before the administration can levy new tariffs.
<h2 class="wp-block-heading">J.B. Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>)</h2>
One industry that seems set to benefit from tariffs with minimal downside is domestic shipping and trucking companies. As more retail and consumer discretionary firms move production back to the United States (or at least closer to shore), railways, trucking firms, and other companies focusing on intermodal and last-mile transportation could benefit greatly. One shipping stock that saw a boost in the immediate aftermath of Trump's election was JBHT.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="402" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130124/JBHT-1024x402.png" alt="" class="wp-image-661493" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130124/JBHT-1024x402.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130124/JBHT-300x118.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130124/JBHT-768x302.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130124/JBHT.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
J.B. Hunt is one of the largest domestic transportation companies in the United States. One of its main businesses is loading and unloading shipping containers from railcars. If manufacturers re-shore or near-shore their operations closer to domestic shipping channels, stocks like JBHT could rapidly increase as revenue is boosted by expanding domestic rail usage.
<h2 class="wp-block-heading">Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>)</h2>
If physical goods like electronics, cars, and clothes are going to get more expensive, an excellent place to invest will be services that trade in intellectual property. And after setting records for viewership and gate at the Jake Paul vs. Mike Tyson fight, Netflix is poised to steamroll into one of the few places it hasn't dared tread: live sports. On Christmas Day, Netflix will air two exclusive NFL games with significant playoff implications when the defending champion Kansas City Chiefs visit the Pittsburgh Steelers and the Baltimore Ravens take on the Houston Texans.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="402" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130130/NFLX-1024x402.png" alt="" class="wp-image-661494" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130130/NFLX-1024x402.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130130/NFLX-300x118.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130130/NFLX-768x302.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130130/NFLX.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
To borrow some terms from boxing, Netflix has knocked out its competition in the streaming wars. The company boasts more than 247 million subscribers in 2024, far outpacing Amazon's Prime Video's 200 million (and you don't get the benefits of Prime shipping with Netflix). Disney+ is growing rapidly but still sits nearly 100 million subs behind Netflix.
<h3 class="wp-block-heading">Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</h3>
Toy maker Hasbro has been a trendsetter when it comes to moving production out of China. The company began moving its operations away from the communist regime in 2012, citing "enterprise risk," the transition has drastically limited the company's exposure to tariffs, showcasing strategic foresight and a proactive approach.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="402" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130134/HAS-1024x402.png" alt="" class="wp-image-661495" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130134/HAS-1024x402.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130134/HAS-300x118.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130134/HAS-768x302.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22130134/HAS.png 1365w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Hasbro makes popular toys, board games, and party favorites under brands like Parker Brothers, Milton Bradley, Kenner, and its own name. While most of its products had traditionally been made in China, the company began its exit in 2012 and reduced Chinese manufacturing to the United States to 50% as of 2020. While the company still depends significantly on Chinese imports, analysts believe the business is <a href="https://www.morningstar.com/news/marketwatch/20241021639/hasbro-and-mattel-are-relatively-insulated-from-china-tariffs-they-would-still-hurt">better insulated</a> from tariff costs than its peers like Mattel. Plus, many toys were granted a reprieve from the initial tariff blast in 2017, and it&#8217;s possible that carveouts could be on deck for companies like Hasbro that moved production out of China.
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5 Stocks to Buy Before Tariffs Kick In

<h3 class="wp-block-heading">New On The Block</h3>
Evolent Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) is <a href="https://www.benzinga.com/m-a/24/08/40529349/evolent-health-explores-sale-garners-inbound-interest-from-private-equity-firms">reportedly up for sale</a>. The Arlington, Virginia-based software provide initiated an auction process after receiving takeover inquiries. Among the potential suitors are TPG Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), Clayton, Dubilier &amp; Rice, and KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>). Reuters reported that health insurer Elevance Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) may join forces with a private equity partner to pursue a deal.
Kronos Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRON#NASDAQ">KRON</a>), a company focused on developing therapies for cancer, is exploring &#8220;strategic alternatives,&#8221; including an acquisition or merger.The San Mateo, Califonia-based company reported $124.9 million in cash reserves as of Sept. 30. 
Saint-Gobain (PARIS:<a class="ticker" href="https://www.benzinga.com/stock/SGO#PARIS">SGO</a>) is considering a sale of its auto glass unit, which could fetch up to 2.5 billion euro ($2.6 billion), per <a href="https://www.bloomberg.com/news/articles/2024-11-13/st-gobain-is-said-to-weigh-2-5-billion-sale-of-auto-glass-unit">Bloomberg</a>. The company is reportedly considering this strategic move as part of its broader business evaluation. This sale aligns with Saint-Gobain&#8217;s efforts to streamline its operations and focus on core business areas.
Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) is seeking to <a href="https://www.bloomberg.com/news/articles/2024-11-13/shell-aims-to-sell-majority-stake-in-carbon-offsets-business?srnd=phx-deals">jettison</a> a majority of its carbon offsets portfolio. The company first launched the portfolio of offsets, which covers dozens of projects, <a href="https://www.bloomberg.com/news/features/2023-08-31/shell-silently-abandoned-its-100-million-a-year-plan-to-offset-co2-emissions" target="_blank" rel="noreferrer noopener">in 2018</a>. 
Unilever (LSE: ULVR) is exploring the sale of some Dutch food brands, including Unox soups and Conimex seasonings. According to Reuters, the company will instead focus on its biggest &#8220;power&#8221; labels.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
Alex Jones&#8217;s media company, Infowars, is now the property of satirical publication The Onion. The publication&#8217;s backers were none other than the families <a href="https://www.benzinga.com/media/24/11/41982446/jokes-on-jones-onion-backed-by-families-of-sandy-hook-victims-buys-info-wars">of Sandy Hook victims</a>. Observers praised the deal as poetic justice, considering Jones owes over $1 billion in defamation judgments against those families. Jones, who <a href="https://www.benzinga.com/news/23/12/36168941/elon-musks-controversial-move-alex-jones-returns-to-x-after-user-vote">has garnered sympathy from</a> right-wing personalities like Elon Musk and Tucker Carlson, confirmed the acquisition in a visibly distressed social media video, blaming &#8220;Democrats.&#8221;
Diamond Sports Group&#8216;s restructuring will include reducing its debt from nearly $9 billion to $200 million, <a href="https://www.espn.com/mlb/story/_/id/42388454/diamond-sports-group-emerges-bankruptcy">ESPN</a> reports. The restructuring plan received what Diamond categorized as &#8220;nearly unanimous support&#8221; from debt holders. Diamond, currently possessing $100 million in liquidity, will emerge from bankruptcy and operate as a stand-alone entity. Sinclair, the parent company, took on $8 billion in debt to buy regional channels from Fox for $10.6 billion in 2019. That debt contributed to Diamond&#8217;s bankruptcy.
<h3 class="wp-block-heading">Updates From The Block</h3>
Currently, there are no concrete indications that Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is actively pursuing a sale. Recent speculation regarding Humana being acquired by Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) was definitively addressed, with Cigna explicitly stating that it is <a href="https://www.benzinga.com/general/health-care/24/11/41877573/cigna-not-pursuing-humana-merger-stock-soars">not pursuing a merger</a> with Humana at this time. This clarification came after rumors reignited post-election, driven by the potential for more lenient antitrust reviews under the new <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">Republican administration and Congress</a>.
Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is no longer in deal talks with Frontier Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). It&#8217;s now in advanced discussions with bondholders to finalize a bankruptcy plan. The carrier continues to struggle with mounting losses and looming debt maturities. A bankruptcy filing is expected to happen within weeks, according to <a href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud">the Wall Street Journal</a>.
MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) continues to explore M&amp;A opportunities, hiring Oppenheimer &amp; Co., Inc. as an exclusive financial advisor to assist the process. During the first quarter of fiscal year 2025, the company commenced cash preservation efforts that include a reduction-in-force, which will continue in stages as the Company's operational and strategic direction evolves.
<h3 class="wp-block-heading">Notes From The Block</h3>
Wall Street anticipates a surge in M&amp;A as Republicans take control of Congress and deregulate. Analysts expect Federal Trade Commission Chair Lina Khan's removal, which could ease antitrust scrutiny. Bank of America highlights that Republican administrations, like President-elect Donald Trump&#8216;s, historically foster over 50% more financial sector M&amp;A activity compared to Democratic ones. 
Bank of America also predicts that 2025 could mark a better year for M&amp;A as rate cuts take effect and economic conditions stabilize. Here&#8217;s a list of five potential targets the bank compiled. For the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">full list, click here</a>.
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Sector</th>
<th>Market Cap ($M)</th>
<th>Free Cash Flows-to-Enterprise Value (%)</th>
<th>Long-Term Growth Expectations (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Universal Health Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>Health Care</td>
<td>13,932</td>
<td>4.4</td>
<td>25.3</td>
</tr>
<tr>
<td>Ralph LaurenCorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>Consumer Disc.</td>
<td>12,473</td>
<td>5.99</td>
<td>10.5</td>
</tr>
<tr>
<td>Paramount Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NYSE">PARA</a>)</td>
<td>Comm. Services</td>
<td>7,250</td>
<td>3.4</td>
<td>46.4</td>
</tr>
<tr>
<td>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>)</td>
<td>Technology</td>
<td>14,480</td>
<td>6.39</td>
<td>12.7</td>
</tr>
<tr>
<td>Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</td>
<td>Consumer Disc.</td>
<td>9,215</td>
<td>3.6</td>
<td>27.5</td>
</tr>
</tbody>
</table>
</figure>
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/news/asset-sales/24/11/41866114/deal-dispatch-prison-companies-in-focus-post-election-tripadvisor-boasts-11b-in-cash">click here</a>.
Now Read: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41699259/nvidia-rides-ai-wave-to-replace-intel-on-dow-jones-industrial-average-ending-its-25-year-run">Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run</a></li>
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AAUKF

APTV

ATSG

FFIV

PARIS:SGO

ROIC

SLGWF

SLNG

TRIP

Deal Dispatch: Shell, Unilever And More Are On The Sell Side; The Onion Makes Alex Jones Cry Foul

With Republicans taking control of Congress, Wall Street is buzzing about a potential boom in mergers and acquisitions (M&amp;A) under the upcoming<a href="https://www.benzinga.com/topic/donald-trump"> Trump administration.</a>
Bank of America analysts see brighter days ahead for deal-making, anticipating that Trump could remove Federal Trade Commission Chair Lina Khan, whose aggressive antitrust stance has been a major roadblock for M&amp;A activity across sectors.
Combined with favorable macro factors and investor demand for capex and M&amp;A over debt paydown, there are plenty of reasons to believe that 2025 and beyond could see significant deal activity.
<h3 class="wp-block-heading">Banks And Biotech: Two Key Sectors To Watch</h3>
Analysts at Bank of America's U.S. banks team are particularly bullish about the M&amp;A prospects for financials, which have historically enjoyed more than 50% higher deal activity under Republican administrations than Democratic ones. With regulatory scrutiny expected to loosen, the landscape is ripe for a surge in bank deals.
Deal activity in biotech has already started picking up, especially in smaller acquisitions. Big Pharma faces mounting pressure to offset patent expirations, so it&#8217;s hunting for acquisition targets to replenish its drug pipelines. Lower rates and potential deregulation could further fuel biotech M&amp;A as we head into 2025.
"The election results could lead to a less restrictive regulatory environment, which may open the door for more bank mergers and acquisitions,&#8221; Jill Carey Hall, CFA, a Bank of America analyst, said. 
<h3 class="wp-block-heading">Macro Factors: Green And Yellow Lights for M&amp;A</h3>
Several macroeconomic factors support a cyclical pick-up in M&amp;A activity. 
Strong equity market returns, cheap small-cap valuations relative to large caps and tight credit spreads all suggest a favorable environment for deal-making.
Not all signals are flashing green. Slowing GDP growth, rate uncertainty and high volatility could throw some caution flags. Long-term growth expectations for small caps, though improved, still remain below average.
Bank of America's credit strategists predict that 2025 could be a better year for M&amp;A activity as rate cuts begin to materialize and volatility subsides. 
"Sponsors are sitting on a pile of uncalled capital, and there's a real incentive to deploy it in a friendlier economic environment," Hall said.
<h3 class="wp-block-heading">Who Stands To Gain: Small-Cap Targets, Large-Cap Acquirers</h3>
With large deals on the decline, smaller targets have become the prime candidates for takeovers. 
Aggregate deal value has been falling in recent years as mega-cap deals have dried up and smaller, more manageable transactions have become the norm.
This trend has paid off for both sides: small-cap targets have outperformed post-announcement and large-cap acquirers have seen record one-day gains in 2023 despite paying higher deal premiums.
This pattern suggests that investors are rewarding companies that buy growth, especially in today's uncertain economic landscape.
<h3 class="wp-block-heading">10 Potential M&amp;A Candidates Among Large Caps</h3>
Bank of America's latest screening of potential M&amp;A candidates includes high-growth, undervalued names, each with distinct value propositions that may appeal to suitors looking for long-term growth.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Sector</th>
<th>Market Cap ($M)</th>
<th>Free Cash Flows-to-Enterprise Value (%)</th>
<th>Long-Term Growth Expectations (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Universal Health Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>Health Care</td>
<td>13,932</td>
<td>4.4</td>
<td>25.3</td>
</tr>
<tr>
<td>Ralph Lauren Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>)</td>
<td>Consumer Disc.</td>
<td>12,473</td>
<td>5.99</td>
<td>10.5</td>
</tr>
<tr>
<td>Paramount Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NYSE">PARA</a>)</td>
<td>Comm. Services</td>
<td>7,250</td>
<td>3.4</td>
<td>46.4</td>
</tr>
<tr>
<td>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>)</td>
<td>Technology</td>
<td>14,480</td>
<td>6.39</td>
<td>12.7</td>
</tr>
<tr>
<td>Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</td>
<td>Consumer Disc.</td>
<td>9,215</td>
<td>3.6</td>
<td>27.5</td>
</tr>
<tr>
<td>F5 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>)</td>
<td>Technology</td>
<td>13,431</td>
<td>6.39</td>
<td>9.9</td>
</tr>
<tr>
<td>DaVita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>) </td>
<td>Health Care</td>
<td>11,976</td>
<td>5.39</td>
<td>15.4</td>
</tr>
<tr>
<td>BorgWarner Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWA#NYSE">BWA</a>)</td>
<td>Consumer Disc.</td>
<td>7,316</td>
<td>6.5</td>
<td>12.0</td>
</tr>
<tr>
<td>Aptiv plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>)</td>
<td>Consumer Disc.</td>
<td>13,143</td>
<td>4.4</td>
<td>23.7</td>
</tr>
<tr>
<td>A. O. Smith Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>)</td>
<td>Industrials</td>
<td>10,895</td>
<td>2.3</td>
<td>10.0</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41950023/us-stock-markets-equity-risk-premium-disappears-should-you-sell-now">US Stock Market&#8217;s Equity Risk Premium Disappears: Should You Sell Now?</a></li>
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Small Cap

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Golden Years For M&A Deals Ahead Under Trump? Analysts Highlight Top 10 Large-Cap Candidates

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Levi Strauss &amp; Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NASDAQ">LEVI</a>)</h3>
<ul>
<li>On Oct. 28, Levi Strauss named Dario Aguilar as Managing Director, Latin America. The company's stock fell around 11% over the past month and has a <a href="https://www.benzinga.com/quote/LEVI">52-week low of $13.94</a>.</li>
<li>RSI Value: 29.52&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>LEVI Price Action: Shares of Levi fell 0.7% to close at $16.86 on Tuesday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1">latest LEVI news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="901" height="848" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030649/image-125.png" alt="" class="wp-image-644619" style="width:653px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030649/image-125.png 901w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030649/image-125-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030649/image-125-768x723.png 768w" sizes="(max-width: 901px) 100vw, 901px" /></a></figure>
<h3 class="wp-block-heading">Crocs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Oct. 29, Crocs reported third-quarter financial results and lowered its revenue guidance related to the HEYDUDE Brand. The company reported adjusted earnings per share of $3.60 (+11%), beating the street view of $3.10. Quarterly revenues of $1.062 billion (+2%) beat the analyst consensus of $1.05 billion. The company's stock fell around 27% over the past month and <a href="https://www.benzinga.com/quote/CROX">has a 52-week low</a> of $77.16.</li>
<li>RSI Value: 25.13</li>
<li>CROX Price Action: Shares of Crocs fell 0.9% to close at $101.98 on Tuesday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1">trend in CROX stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="925" height="852" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030754/image-126.png" alt="" class="wp-image-644621" style="width:676px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030754/image-126.png 925w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030754/image-126-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030754/image-126-768x707.png 768w" sizes="(max-width: 925px) 100vw, 925px" /></a></figure>
<h3 class="wp-block-heading">Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</h3>
<ul>
<li>On Oct. 24, Hasbro reported a third-quarter sales decline of 15% year-on-year to $1.281 billion, marginally missing the analyst consensus estimate of $1.295 billion. &#8220;We continue to execute our turnaround efforts and are poised to finish the year with improved profitability, cash flow and operational rigor,&#8221; said Gina Goetter, Hasbro&#8217;s Chief Financial Officer. The company's stock fell around 11% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/DHC">low of $42.70</a>.</li>
<li>RSI Value: 29.26</li>
<li>HAS Price Action: Shares of Hasbro fell 1.1% to close at $63.42 on Tuesday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1">breakout in HAS shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="901" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030905/image-127.png" alt="" class="wp-image-644623" style="width:601px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030905/image-127.png 901w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030905/image-127-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030905/image-127-768x722.png 768w" sizes="(max-width: 901px) 100vw, 901px" /></a></figure>
<h3 class="wp-block-heading">American Eagle Outfitters Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEO#NYSE">AEO</a>)</h3>
<ul>
<li>On Nov. 12, Jefferies analyst Corey Tarlowe maintained American Eagle with a Hold and lowered the price target from $22 to $19. The company's shares lost around 13% over the past month. The company's 52-week low is $73.04.</li>
<li>RSI Value: 15.92</li>
<li>AEO Price Action: Shares of American Eagle fell 1.5% to close at $17.94 on Tuesday.</li>
<li>Benzinga Pro's earnings calendar was used to track upcoming <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1">AEO earnings reports</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="890" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030951/image-128.png" alt="" class="wp-image-644626" style="width:698px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030951/image-128.png 890w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030951/image-128-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13030951/image-128-768x727.png 768w" sizes="(max-width: 890px) 100vw, 890px" /></a></figure>
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Long Ideas

Pre-Market Outlook

CROX

LEVI

Top 4 Consumer Stocks That May Explode In November

Analysts rerated Hasbro, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) after mixed quarterly print. On Thursday, the company reported a third-quarter sales decline of 15% to $1.281 billion, marginally missing the <a href="https://www.benzinga.com/news/earnings/24/10/41515616/monopoly-maker-hasbro-inventory-falls-39-in-q3-cfo-vows-to-finish-2024-with-improved-profitability" target="_blank" rel="noreferrer noopener">analyst estimate of $1.295 billion</a>.
JPMorgan analyst Christopher Horvers maintained an Overweight rating on Hasbro and lowered the price target to $79 from $82.
BofA Securities analyst Alexander Perry reiterated a Buy rating on Hasbro with a price target of $95. The stock is trading higher on Friday.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/10/41545709/usa-scores-big-win-taiwan-semiconductor-arizona-plant-sees-good-production-yields" rel="noreferrer noopener">USA Scores Big Win Taiwan Semiconductor Arizona Plant, Sees Good Production Yields</a>
JPMorgan: Hasbro revised guidance, with the Consumer Products outlook lowered due to a weaker third quarter, especially in Star Wars and NERF, while raising the Wizards of the Coast (WOTC) outlook due to solid performance from MTG and Monopoly Go!
Despite this, Hasbro maintained its full-year EBITDA guidance, which the market views as conservative.
Revenue for Consumer Products fell by 10%, partly due to a 4% headwind from fewer closeout sales. While impacting the top line, this supported a 150 bp gross margin improvement. Management expects year-on-year declines to ease in the fourth quarter with accelerating point-of-sale trends bolstered by increased advertising and product innovation.
WOTC revenue surpassed expectations by 14% due to successful MTG releases and resilience in titles like Baldur&#8217;s Gate III. Although Monopoly Go! met guidance, its conservative outlook implies a 24% decline in WOTC revenue for the fourth quarter, partially impacted by shipment timing.
Hasbro&#8217;s gross margin reached 70.4%, driven by supply chain savings and closeout sales discipline. Management aims to continue realizing supply chain efficiencies while reducing closeouts to prioritize profitability.
Horvers&#8217; estimates for Hasbro remain ahead of consensus. He noted that market expectations for cost efficiency and digital gaming growth are too low. According to the analyst, both areas will likely gain momentum in the second half of 2024 and early 2025.
Horvers noted that the industry is primed for growth this year despite a shorter holiday season. Retailers like Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) increasingly focus on event-driven traffic, with toys as a significant draw. The analyst said Hasbro is well-positioned for the second half of 2024, especially with the Transformers shift to the third quarter and merchandising improvements under new management.
Horvers said Hasbro&#8217;s $750 million cost reduction plan is expected to be fully implemented by late 2025. The Consumer Products segment should also benefit from planned innovation and the acceleration of MTG&#8217;s Universes Beyond strategy (including Final Fantasy and Marvel tie-ins), as per the analyst.
Horvers&#8217; December 2025 price target is $79, based on an ~11.5 times EV/EBITDA on 2026 estimates. Per Horvers, this target reflects potential margin expansion driven by Hasbro&#8217;s 2024 cost and product mix strategies, which could warrant a higher valuation if the momentum continues.
BofA Securities: The rating reflects Hasbro&#8217;s benefits from the shift to gaming and digital gaming alongside a turnaround in its Consumer Products segment.
Hasbro&#8217;s third-quarter adjusted EPS reached $1.73, surpassing the projected $1.27 due to stronger-than-expected operating margins in Consumer Products (15.1% vs. 10.0% expected) and Wizards of the Coast (44.9% vs. 42.0% expected). Wizards revenue aligned with forecasts with Monopoly Go! contributing $30 million, and Magic: The Gathering outperforming by 3% on unexpected boosts from Bloomburrow and Duskmourn releases.
Although Consumer Products revenue dropped 10% (compared to the anticipated 5%), operating profit exceeded estimates, benefiting from cost structure improvements that offset volume decreases.
Hasbro anticipates a 19% decline in Wizards of the Coast for the fourth quarter due to a projected $70 million drop in Magic: The Gathering, primarily impacted by a $40 million headwind from the prior year&#8217;s Lord of the Rings holiday release and a $30 million timing shift for a January 2025 Remastered set. Digital revenue should remain flat, with contributions from Monopoly Go! expected to balance out Baldur&#8217;s Gate 3. Wizards&#8217; operating margin is projected at 22%, reflecting volume-related headwinds. The adjusted EPS estimate for fiscal 2024 increases to $4.00, up from $3.88, due to the strong third-quarter performance.
Hasbro forecasts a 3% decline in Consumer Products revenue for the fourth quarter, revising its guidance by $100 million. Factors include a $50 million reduction from fewer low-margin closeouts, a $35 million drop from lower entertainment-backed brands, especially Star Wars, and a $15 million impact from execution challenges in leaner inventory management. A sequential decline to a 7% CP operating margin is expected in the fourth quarter, reflecting higher royalties, such as from Beyblade, and increased managed expenses.
The outlook for 2025 appears strong, with projected growth from Magic: The Gathering driven by three new Universes Beyond sets, including a $30 million benefit from timing shifts in the first quarter, a robust theatrical lineup, highlighted by Captain America (February 14) and Fantastic Four (July 25), anticipated first-quarter gains from a full quarter of Monopoly Go! beyond minimum guarantees, with a $10 million monthly run rate and potential double-digit EBIT margin growth in Consumer Products if volume increases continue.
Price Action: HAS stock is up 1.24% at $66.92 at the last check Friday.
Photo via Shutterstock
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</ul>

Equities

Price Target

Reiteration

Analysts See Hasbro's Mixed Q3 As Pathway To Growth: Cost Cuts, Gaming, And Product Innovation In Focus

DA Davidson analyst Linda Bolton Weiser maintains Hasbro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) with a Neutral and raises the price target from $59 to $73.

DA Davidson Maintains Neutral on Hasbro, Raises Price Target to $73

JP Morgan analyst Christopher Horvers maintains Hasbro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) with a Overweight and lowers the price target from $82 to $79.

JP Morgan Maintains Overweight on Hasbro, Lowers Price Target to $79

6 analysts have shared their evaluations of Hasbro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $87.33, with a high estimate of $95.00 and a low estimate of $82.00. Observing a 8.26% increase, the current average has risen from the previous average price target of $80.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1729857652_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Hasbro. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Megan Alexander</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$92.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Christopher Horvers</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$82.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Alexander Perry</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$95.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Drew Crum</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$82.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Stephanie Wissink</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$83.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Alexander Perry</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Hasbro. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Hasbro compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Hasbro's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Hasbro's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/HAS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Hasbro analyst ratings.</a>
<h2>About Hasbro</h2>
Hasbro is a branded play company providing children and families around the world with entertainment offerings based on a world-class brand portfolio. From toys and games to television programming, motion pictures, and a licensing program, Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and Magic: The Gathering. Ownership stakes in Discovery Family, which offers programming around Hasbro brands, and production capabilities has helped bolster Hasbro's multichannel presence. The firm acquired EOne in 2019, bolting on popular family properties like Peppa Pig and PJ Masks, and since has pruned noncore lines from the tie-up. Furthermore, the addition of Dungeons &amp; Dragons Beyond in 2022, offers the firm access to 18 million digital tabletop players.
<h3>Hasbro: Financial Performance Dissected</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Challenges: Hasbro's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -17.74%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: Hasbro's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 13.92%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Hasbro's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 12.84%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Hasbro's ROA excels beyond industry benchmarks, reaching 2.12%. This signifies efficient management of assets and strong financial health.
Debt Management: Hasbro's debt-to-equity ratio surpasses industry norms, standing at 3.47. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing Hasbro: Insights From 6 Financial Analysts

Morgan Stanley analyst Megan Alexander maintains Hasbro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) with a Overweight and raises the price target from $80 to $92.

Morgan Stanley Maintains Overweight on Hasbro, Raises Price Target to $92

Hasbro shares are trading lower following a Q3 revenue miss.

Earnings

Hasbro Executive Says Continued Softness In Nerf, Action Figures, Particularly Star Wars Contributed To Decline In Q3

Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) reported a third-quarter sales decline of 15% year-on-year to $1.281 billion, marginally missing the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41511862/hasbro-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">analyst consensus estimate of $1.295 billion</a>.
The revenue decline was driven primarily by the eOne film divestiture; excluding the divestiture, revenue declined by 9%.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41499604/uber-analyst-bets-new-verticals-partnerships-will-drive-q3-gains" rel="noreferrer noopener">Uber Analyst Bets New Verticals, Partnerships Will Drive Q3 Gains</a>
Segment Revenue: Consumer Products declined 10% driven by exited brands, reduced closeouts and softer than anticipated volume; declines partially offset by new product innovation and strength in consumer products licensing.
Wizards of the Coast and Digital Gaming revenue decreased 5% as growth in MAGIC: THE GATHERING was offset by expected declines in Licensed and Digital Gaming due to the launch of Baldur's Gate 3 in the third quarter 2023. Monopoly Go! contributed $30M of revenue, in line with guidance.
Entertainment segment revenues plunged 86%, impacted by the sale of eOne divestiture; absent this impact, revenue declined 17%.
Selling, distribution, and administration costs fell 15.0%. The operating margin expanded Y/Y from (11.3)% to 23.6%, and operating income for the quarter was $301.9 million compared to a $169.5 million loss last year.
Adjusted EBITDA for the quarter was $406.4 million. Adjusted EPS of $1.73&nbsp;beat the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus of $1.28</a>.
Hasbro held $1.19 billion in cash and equivalents as of September end. The operating cash flow for nine months totaled $587.6 million.
Hasbro-owned inventory was down 39% compared to the prior year, including a 40% decline in Consumer Products inventory compared to the third quarter of 2023.
The company's quarterly cash dividend of&nbsp;$0.70&nbsp;per common share, payable on December 4, to shareholders of record at the close of business on November 20.
"We continue to execute our turnaround efforts and are poised to finish the year with improved profitability, cash flow and operational rigor," said Gina Goetter, Hasbro's Chief Financial Officer.
Outlook: Hasbro <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">revised its fiscal 2024</a> Consumer Products Segment revenue outlook from down&nbsp;7%–11% to down 12%–14%.
The company <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39955852/play-doh-twister-maker-hasbro-thrives-q2-profits-soar-despite-entertainment-slump" rel="noreferrer noopener">reiterated fiscal 2024</a> adjusted EBITDA guidance of $975 million—$1.025 billion. By 2025's end, Hasbro maintained gross savings of $750 million.
Price Action: HAS stock is down 0.16% at $70.22 in premarket at the last check Thursday.
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Photo via Shutterstock

Guidance

Monopoly Maker Hasbro Inventory Falls 39% In Q3, CFO Vows To Finish 2024 With Improved Profitability

Hasbro Sees FY24 Total Adj. EBITDA $975M-$1.025B

Hasbro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) reported quarterly earnings of $1.73 per share which beat the analyst consensus estimate of $1.28 by 35.16 percent. The company reported quarterly sales of $1.281 billion which missed the analyst consensus estimate of $1.295 billion by 1.11 percent. This is a 14.77 percent decrease over sales of $1.503 billion the same period last year.

Earnings Beats

Earnings Misses

Hasbro Q3 2024 Adj. EPS $1.73 Beats $1.28 Estimate, Sales $1.281B Miss $1.295B Estimate

Hasbro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) will release its quarterly earnings report on Thursday, 2024-10-24. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Hasbro to report an earnings per share (EPS) of $1.30.
The announcement from Hasbro is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.44, leading to a 3.79% increase in the share price on the subsequent day.
Here's a look at Hasbro's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.78</td>
<td>0.27</td>
<td>0.66</td>
<td>1.71</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.22</td>
<td>0.61</td>
<td>0.38</td>
<td>1.64</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.0%</td>
<td>-0.0%</td>
<td>4.0%</td>
<td>-5.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729706451_0_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Hasbro were trading at $71.04 as of October 22. Over the last 52-week period, shares are up 45.61%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Opinions on Hasbro</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Hasbro.
The consensus rating for Hasbro is Buy, derived from 8 analyst ratings. An average one-year price target of $81.0 implies a potential 14.02% upside.
<h3>Comparing Ratings with Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Mattel, Brunswick and Polaris, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>As per analysts' assessments, Mattel is favoring an Neutral trajectory, with an average 1-year price target of $21.5, suggesting a potential 69.74% downside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for Brunswick, with an average 1-year price target of $92.71, indicating a potential 30.5% upside.</li>
<li>The consensus among analysts is an Outperform trajectory for Polaris, with an average 1-year price target of $83.67, indicating a potential 17.78% upside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
In the peer analysis summary, key metrics for Mattel, Brunswick and Polaris are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Hasbro</td>
<td>Buy</td>
<td>-17.74%</td>
<td>$702.30M</td>
<td>12.84%</td>
</tr>
<tr>
<td>Mattel</td>
<td>Neutral</td>
<td>-0.68%</td>
<td>$530.74M</td>
<td>2.84%</td>
</tr>
<tr>
<td>Brunswick</td>
<td>Buy</td>
<td>-15.18%</td>
<td>$391M</td>
<td>4.92%</td>
</tr>
<tr>
<td>Polaris</td>
<td>Outperform</td>
<td>-11.52%</td>
<td>$424M</td>
<td>5.06%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Hasbro ranks at the top for Gross Profit and Return on Equity among its peers. It is in the middle for Revenue Growth.
<h3>Discovering Hasbro: A Closer Look</h3>
Hasbro is a branded play company providing children and families around the world with entertainment offerings based on a world-class brand portfolio. From toys and games to television programming, motion pictures, and a licensing program, Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and Magic: The Gathering. Ownership stakes in Discovery Family, which offers programming around Hasbro brands, and production capabilities has helped bolster Hasbro's multichannel presence. The firm acquired EOne in 2019, bolting on popular family properties like Peppa Pig and PJ Masks, and since has pruned noncore lines from the tie-up. Furthermore, the addition of Dungeons &amp; Dragons Beyond in 2022, offers the firm access to 18 million digital tabletop players.
<h3>A Deep Dive into Hasbro's Financials</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining Hasbro's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -17.74% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 13.92%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Hasbro's ROE stands out, surpassing industry averages. With an impressive ROE of 12.84%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Hasbro's ROA stands out, surpassing industry averages. With an impressive ROA of 2.12%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Hasbro's debt-to-equity ratio stands notably higher than the industry average, reaching 3.47. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<a href="https://www.benzinga.com/quote/HAS/earnings">To track all earnings releases for Hasbro visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Press Releases

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Hasbro, Inc. (HAS)

HAS LAWSUIT ALERT: Levi & Korsinsky Notifies Hasbro, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline

Class Action Filed Against Hasbro, Inc. (HAS) Seeking Recovery for Investors - Contact Levi & Korsinsky

HAS DEADLINE: ROSEN, LEADING TRIAL ATTORNEYS, Encourages Hasbro, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – HAS

INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hasbro

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Hasbro, Inc. of Class Action Lawsuit and Upcoming Deadlines - HAS

The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of January 13, 2025 in Hasbro, Inc. Lawsuit - HAS

HAS INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Hasbro, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Hasbro, Inc. (HAS) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit

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