Analyst lowers rating and warns of potential dividend cut

  • Hasbro receives a downgrade from D.A. Davidson
  • Analyst lowers rating and price target due to concerns about toy industry outlook
  • Hasbro recently cut nearly 20% of its workforce
  • Toy sales slowdown could lead to dividend cut in early 2024

Hasbro stock received a downgrade from D.A. Davidson due to concerns about the outlook for the toy industry in 2024. Analyst Linda Bolton Weiser lowered her rating for Hasbro shares to Neutral from Buy and trimmed her price target. This downgrade comes after Hasbro recently cut nearly 20% of its workforce, citing weaker-than-expected toy sales. The toy industry as a whole is experiencing a slowdown, and Bolton Weiser is concerned that Hasbro will have less cash available to pay off debt and cash dividends, potentially leading to a dividend cut in early 2024.

Public Companies: Hasbro (HAS), Mattel (MAT)
Private Companies:
Key People: Linda Bolton Weiser (Analyst), Chris Cocks (CEO), Ynon Kreiz (CEO)

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Factuality Level: 7
Justification: The article provides information about a downgrade in Hasbro stock and the concerns about the toy industry in 2024. It includes quotes from analysts and the CEO of Hasbro. However, the article lacks in-depth analysis and context about the overall toy industry and the specific factors affecting Hasbro’s performance.

Noise Level: 3
Justification: The article provides relevant information about Hasbro stock receiving a downgrade and concerns about the toy industry. It includes quotes from analysts and company executives. However, it lacks in-depth analysis, data, and actionable insights. The article also contains filler content such as information about Hasbro’s workforce cut and Mattel’s performance, which are not directly related to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: Hasbro stock

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the downgrade of Hasbro stock and concerns about the outlook for the toy industry in 2024. It also mentions the toy maker’s workforce reduction and the potential for a dividend cut. While there is no extreme event mentioned, the financial implications for Hasbro and the toy industry are significant.

Reported publicly: www.marketwatch.com