Hasbro (HAS) Stock Forecast & Price Target

Hasbro is attractive fundamentally because its portfolio is increasingly concentrated around fewer global brands with durable consumer appeal, including Transformers, Peppa Pig, Magic: The Gathering, and Dungeons & Dragons, while the EOne acquisition broadened its family entertainment assets and the 2022 addition of Dungeons & Dragons Beyond expanded exposure to about 20 million digital tabletop players. The Wizards & Digital Gaming segment remains the clearest growth engine, with management citing 17% CAGR revenue growth since 2009 and raising its full-year outlook to up low double digits, while long-term distribution gains across hobby stores, mass retailers, and online, plus Universe Beyond licensing opportunities, support continued demand even as near-term comparisons get tougher. Financially, the company’s 2026 sales estimate is $5,060M and 2027 sales are $5,260M, with EBITDA forecast at $1,518M and $1,542M and EPS at $6.29 and $6.79, implying expanding profitability as the mix shifts toward higher-margin Wizards content.

Hasbro is facing a mixed but ultimately fragile operating backdrop, where the Consumer Products segment has only just posted a third straight quarter of growth after 13 straight quarters of declines, suggesting the core toy business is still in recovery rather than on solid footing. Although GEM2 has driven nearly 24% year-to-date growth through May and brands like Play-Doh Blooms and the new Legend of Zelda license indicate some demand strength, the company’s own 2H26 sales guide remains below consensus at down 1% to up 2%, with overall sales and Wizards sales both only roughly flat at the midpoint and still pressured by higher royalty expense and a $20 million marketing headwind. From a fundamental perspective, the outlook stays negative because profitability support is uneven—2H26 EBITDA of $780 million to $830 million only brackets consensus while Wizards margins are expected to fall to 41.7% at the midpoint—and the guidance itself reflects lingering consumer uncertainty around the holiday period and the possibility that some revenue was pulled forward into 2Q.