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Hasbro (HAS - FusionIQ Master Score - 86) blew away analysts estimates as earnings jumped 14% to $37.5 million, or 25 cents per share, on 12.6% sales growth to $704.2 million. These sales figures blew past Wall Street's predicted sales of $583.6 million with earnings of 14 cents per share. Hasbro strong results this past quarter were based in part by strong sales of Transformers, which got a boost from the live-action movie. The company is gearing up for the sequel, as well as the upcoming "G.I. Joe" movie, "Iron Man," and "Indian Jones and the Kingdom of the Crystal Skull."
As seen in the attached chart below HAS has now broken out to all new highs on very bullish volume and institutional sponsorship. The objective point and figure target for HAS is $ 62.00 and offers good return potential to investors should it bear accurate.
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