In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC's website at A registration statement relating to these securities was filed with the Securities and Exchange Commission (the "SEC") and was declared effective on April 5, 2021. The offering has been made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Boustead Securities, LLC, via email: or by calling +1 (949) 502-4408 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. The ordinary shares are expected to begin trading on the Nasdaq Capital Market on Apunder the symbol "UTME." The offering is expected to close on April 8, 2021, subject to customary closing conditions.īoustead Securities, LLC ("Boustead"), acted as the lead underwriter for the offering, with Brilliant Norton Securities Company Limited and Fosun Hani Securities Limited serving as co-underwriters. NEW YORK, Ap/PRNewswire/ - UTime Limited ("UTime" or the "Company") (Nasdaq: UTME), a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally, today announced the pricing of its initial public offering of 3,750,000 shares of its ordinary shares at a price of US$4.00 per share to the public for a total of US$15 million of gross proceeds to UTime. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. As well, the company features high debt to the tune of $3.5 billion more than cash on hand. Moreover, the current profile for HAS stock presents an unsettling picture for prospective investors. the Street in its high-margin Wizards of the Coast segment while trends in its consumer products business appear to be deteriorating into a weaker consumer backdrop.” JPMorgan Chase analyst Megan Alexander summed up Hasbro’s announcement as a “show-me story in the near-term with 4Q an even higher-bar considering three quarters of misses vs. In particular, the projected 50% increase in operating profits over the next three years attracted skepticism. As well, they raised eyebrows at how management intends to achieve broader profitability metrics. Per Yahoo Finance’s coverage of Hasbro’s investor day, some observers deemed the company’s growth targets as too aggressive. Investors appear to have trouble digesting the nearer-term pessimism - based on worrying indicators such as macroeconomic headwinds - against longer-term optimism. While HAS stock ultimately gained 1.4% on Tuesday’s session, it’s down more than 2% in the early afternoon hours. Management now models 2022 revenue to be flat or slightly down in constant-currency terms. Further, Thomas announced a cut to Hasbro’s full-year outlook. Nevertheless, CFO Deborah Thomas acknowledged that while fourth-quarter results should reflect the benefits of the strategic initiative, the upcoming Q3 report will present challenges. “A rightsized portfolio will improve efficiencies and reduce cost in product development, manufacturing, and overhead,” said Hasbro CEO Eric Nyman. Per Barron’s, “Hasbro plans to cut costs by between $250 million and $300 million over three years, including $150 million by the end of 2023.” This contrasts with the 2022 projection of 16%. Currently, it owns one.ĭuring the aforementioned period, management projects an operating profit margin of over 20%. Ultimately, the company seeks to have three billion-dollar brands by 2027. Structurally, to achieve this goal, Hasbro will bolster existing brands and exit unprofitable ones. Last year, the toymaker rang up $6.4 billion on the top line. Specifically, the company aims to generate a single-digit compound annual growth rate (CAGR) to hit over $8.5 billion in revenue by 2027. Initially popping up on Tuesday’s late-morning session, HAS stock struggled since then.Īccording to Barron’s, Hasbro unveiled a strategic initiative that may lead to significantly higher revenue and profit margins by 2027. Although management delivered an encouraging framework during the company’s investor day, observers noted a contrast between present-day realities and the forward vision. Although the market tends to reward optimistic corporate outlooks, for famous toymaker Hasbro (NASDAQ: HAS), analysts generally regarded its optimism as bravado without substance.
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