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Hasbro missed earnings and revenue expectations in the fourth quarter, while cautioning of headwinds from consumer discretionary environment in 2023. The toymaker’s adjusted earnings came in at $1.31 per share in the final three months of the year, below analysts’ expectations of $1.33 a share (FactSet survey). Revenue dropped -17% from the year-ago quarter to $1.68 billion, vs. analysts’...
Hasbro shares plunged on Friday, after the toy maker said it would layoff around 15% of its global workforce. The company also cautioned that a disappointing holiday season would lead to lower-than-expected fourth quarter earnings. Hasbro will slash around 1,000 jobs, with announcements coming over the next few weeks. The Monopoly maker mentioned that fourth quarter sales would likely...
Hasbro posted its third quarter earnings that missed the Street expectations. The toymaker’s earnings came in at $1.42 a share compared to the $1.52 expected by analysts (based on Refinitiv poll). Revenue for the quarter fell -15% from the year-ago quarter to $1.68 billion vs. $1.68 billion expected. Hasbro’s entertainment segment experience a – 34% plunge in revenue, while Film and TV...
Bowlero Corp posted its fourth quarter earnings that exceeded analysts’; expectations. The bowling center operator’s earnings came in at 7 cents a share, handily topping analysts’ expectations of 4 cents a share (based on FactSet poll). Sales grew +68.3% from the year-ago quarter to roughly $267.7 million, on the back of "continued strong growth in walk in retail and accelerated further by...
Hasbro reported earnings that surpassed the Zacks Consensus Estimate for the fiscal second quarter, although revenues fell short of expectations. The toy and games company’s adjusted earnings came in at $1.15 per share, well above the Zacks Consensus Estimate of 88 cents. The figure is also higher than the year-ago quarter’s $1.05. Revenues inched up +1% year-over-year to $1,339.2 million in...
Peloton Interactive shares climbed on Friday, following Thursday’s plunge that wiped $2.5 billion off the fitness equipment maker’s market value. The company refuted reports that it will suspend production of its bikes and treadmills. Thursday's CNBC report cited an internal memo suggesting that the group was planning to halt production for two months production due to a post-pandemic...
On Monday, exercise equipment and media company Peloton Interactive said that it plans to build its first U.S. factory in Troy Township in Wood County, Ohio.
The company expects that the factory will begin making Peloton Bike, Bike+ and Peloton Tread starting in 2023.
According to Peloton, it will commit $400 million to the facility, which will span more than 200 acres and have more than 1 million square feet of space.The facility is expected to create more than 2,000 new jobs.
In April, one of Peloton’s treadmills was slapped with an urgent safety warning after several people were injured and a child died.
Toymaker Mattel’s shares were boosted by an analyst at Berenberg, ahead of the company’s first-quarter earnings report.
Berenberg analyst David Beckel raised rating to buy from hold on the shares, while raising his price target to $25 from $14.Beckel believes that both companies' strategies are unique enough so both can be winners. The analyst has a buy rating on Hasbro as well.
Beckel expects both the toy giants to grow revenue at "a healthy pace" even amidst difficult industrywide comps in 2021.
It believes that the risk cannot be avoided by locking the device when not in use.
Peloton issued a statement where it mentioned that it believes the Consumer Product Safety Commission's warning is "inaccurate and misleading."
"The Tread+ is safe for Members to use in their homes and comes with safety instructions and warnings to ensure its safe use.
Peloton said it would begin offering its bikes and services in Australia during the second half of the year. Alongwith digital offerings, the fitness and exercise equipment company will launch retail stores with interactive showrooms in major Australian cities such as Melbourne and Sydney. "Health, fitness and sport is a central part of Australia's DNA," said Kevin Cornils, managing director...
Shares of fitness company Peloton got a price target hike from analysts at Bank of America, who also affirmed their buy rating on the stock.
The Bank of America analysts boosted their price target to $175 from $150 .
Bank of America Securities analyst Justin Post noted that visits to the Peloton website in the fiscal second quarter ending December surged +167% year-over-year.While the growth was slower compared to the first quarter’s +289% year-over-year but was well above competition, according to Post.
Post said also mentioned that posts related to Peloton on Instagram rose +71% year over year and were up +92% on Twitter.
The analyst also said that while the company's almost $50 billion valuation implies a risk, the outlook remains "constructive” on the stock ahead of the full U.S. lower-priced tread launch to happen likely in March.
Consumers don't like waiting 10 weeks for anything.
The long wait times are a signal of the strong demand for Peloton's product, but also underscore the rapid shift towards digital everything, including exercise.A perfect solution in a pandemic, which is why its connected-fitness subscriptions grew 137% year-over-year and its digital subscriptions grew 382%.
Peloton has a manufacturing problem, however, with all of its bikes built by third-party manufacturers in Taiwan.
Shooting sports and outdoor products maker Vista Outdoor shares got rating boost to outperform from market perform by Cowen analyst Gautam Khanna.The analyst also hiked his share-price target on Vista shares to $33 from $29.
According to Khanna, President-elect Joe Biden's gun-control plans will likely increase demand for guns and ammunition.
Peloton Interactive got price target raise from Truist Securities analyst Youssef Squali.
Squali boosted his share-price target on the exercise-equipment/software company to a Wall Street high $144 from $115.He has a buy rating on the shares.
"Shelter-in-place practices have created the perfect environment for greater adoption of home exercise equipment, and for Peloton (#1 sought-after brand) through a combination of high quality products/service, easy financing, greater brand awareness and a strong logistics platform," Squali wrote in a commentary.
Truist in a survey found that more than half of respondents have canceled their gym memberships or plan to do so.
Peloton reported fiscal year 2020 Q4 earnings that surpassed analysts’ estimates.
The online fitness/workout company’s adjusted earnings per share came in at $0.27, beating expectations of $0.10 per share.
Revenues of $607.1 million exceeded expectations of $582.5 million.
Peloton’s Q4 adjusted EBITDA of $143.6 million yielded an adjusted EBITDA margin of 23.7%.
The company's gross margins expanded +275bps year-over-year to 47.6%.
Connected Fitness subscription base grew +113% during the quarter to over 1 million.
CEO Jill Woodworth said, “We're proud of how quickly we have achieved our profitability, but our priorities are unchanged.The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today.
Peloton Interactive is reportedly gearing up for the launch of a cheaper treadmill and a high-end bike, according to Bloomberg.
The exercise equipment /media company’s new treadmill, called Tread, will cost less than $3,000, compared with $4,295 for the existing model, Bloomberg reported.Tread will be smaller in size and have a cheaper belt design like most other treadmills in the market compared with the current model’s slat design, Bloomberg said, citing people familiar with the matter who asked not to be named.
The current treadmill will be renamed the “Tread+”, and continue to be sold as a high-end product of the company.
A new bike, called Bike+, will likely be more expensive than the existing $2,245 model.
Peloton got a price target hike from Goldman Sachs analysts.
Goldman raised price target on the shares of the home-workout-technology company to a Wall-Street-high $84 per share (from $66 per share)., while re-affirming its buy rating.
Goldman cited sustained demand and above-average delivery wait times led to connected-subscriber growth surpassing Goldman's prior guidance estimates.
Peloton is increasing the consumer value proposition for both Peloton products and the broader digital ecosystem, according to Goldman.
The investment firm now predicts Peloton's revenue to rise +13.5% per year between 2020 and 2022.The odds of a continued Downtrend are 75%.
Following a 3-day Decline, the ticker is projected to fall further.
Peloton shares jumped on Tuesday, following reports of the company having garnered more than 1 million subscribers.
In a regulatory filing with the Securities and Exchange Commission, the interactive bike-and-exercise-services company said it had crossed the 1 million mark in connected fitness subscribers.
At the end of its fiscal third quarter in March, Peloton reported 886,100 subscribers in the connected fitness category.
Peloton said it would not be updating its projection for the fourth quarter and for full-year 2020.The company previously boosted its outlook for fiscal 2020 to a total of 1.04 to 1.05 million subscribers.
Mattel, Inc. reported better-than-expected financial results, and revealed an investigation into its accounting practices.
The toy maker’s earnings per share came in at 26 cents, exceeding analysts’ estimates of 19 cents.
Sales increased +3% year-over-year to $1.48 billion.The company’s Barbie brand and BTS dolls based on a Korean boy band were major drivers of sales.
The company also released a separate statement, in which it mentioned that an independent audit into the company found it had misstated financial statements in the last two quarters of 2017, but that there was no impact on the financial results of that year.