08:30 AM EDT, 04/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month price target of $59, based on 18.2x our 2024 EPS estimate and in line with the company's 5-year average forward P/E multiple of 18.1x. We maintain our 2024 and 2025 EPS estimates of $3.25 and $3.75, respectively. HAS posts normalized Q1 EPS of $0.61 vs. $0.01, $0.33 above consensus estimates on revenues of $757M vs. $1.0B and $16M above estimates. By segment, Consumer Products declined 21% Y/Y, Digital Gaming increased 7%, and Entertainment declined 85% due mainly to the sale of eOne in Q4. Q1 operating margin expanded 14.9% Y/Y to 19.6% due to significant improvements in Digital Gaming and Entertainment. Inventory was down 53% Y/Y and 32% below 2019 levels with management expecting inventory build in Q2 to meet customer needs. HAS reiterated its full year guidance, which we continue to believe is conservative. However, we believe shares are fairly valued, trading in line with its 5-year average forward P/E multiple during a period of uncertainty surrounding discretionary goods.