BofA analysts on Tuesday said Hasbro should get a jolt in profit next year on the popularity of new games.
Hasbro Inc. this month forecast falling sales for this year, as the strike in Hollywood weighs on its entertainment segment. But BofA analysts on Tuesday said the toy and game maker should get a jolt in profit next year on the popularity of games like Monopoly Go and Baldur’s Gate 3.
“We believe investors don’t fully appreciate Hasbro’s potential to generate high-margin licensing revenue from its strong IP library which includes Transformers, Power Rangers, GI Joe, My Little Pony, and many more,” BofA analysts Jason Haas and Elizabeth Suzuki said in a research note on Tuesday.
The analysts said if Monopoly Go makes in $500 million in sales during its first year, it could contribute $60 million of revenue to Hasbro, or an extra 33 cents to the company’s earnings per share, largely in 2024. They said if Baldur’s Gate 3 can sell 10 million units, they estimated that the gains would translate to $61 million of revenue for Hasbro, or 34 cents to earnings per share through this year and next.
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