Mattel (NASDAQ:MAT) Updates FY 2024 Earnings Guidance

Mattel (NASDAQ:MAT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.350-1.450 for the period, compared to the consensus earnings per share estimate of 1.410. The company issued revenue guidance of -. Mattel also updated its FY24 guidance to $1.35-$1.45 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. DA Davidson reaffirmed a buy rating and set a $27.00 price target on shares of Mattel in a research note on Monday. Bank of America raised their price target on shares of Mattel from $25.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Roth Mkm reaffirmed a neutral rating and set a $21.00 price target on shares of Mattel in a research note on Wednesday, April 24th. Finally, Citigroup raised their price target on shares of Mattel from $25.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Mattel presently has a consensus rating of Moderate Buy and an average price target of $22.63.

Mattel Trading Down 7.7 %

Shares of MAT traded down $1.44 during trading hours on Tuesday, hitting $17.24. 9,913,392 shares of the stock were exchanged, compared to its average volume of 3,442,989. Mattel has a fifty-two week low of $15.87 and a fifty-two week high of $22.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.49 and a quick ratio of 1.88. The business has a 50-day moving average of $17.24 and a 200-day moving average of $18.31. The firm has a market capitalization of $5.93 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.04 and a beta of 0.86.

Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mattel had a net margin of 5.38% and a return on equity of 24.32%. Mattel’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. On average, research analysts expect that Mattel will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other Mattel news, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total value of $407,763.65. Following the completion of the sale, the executive vice president now directly owns 106,086 shares in the company, valued at $1,997,599.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mattel news, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total value of $407,763.65. Following the completion of the sale, the executive vice president now directly owns 106,086 shares in the company, valued at $1,997,599.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Totzke sold 45,216 shares of Mattel stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.90, for a total transaction of $854,582.40. Following the transaction, the insider now owns 101,902 shares of the company’s stock, valued at $1,925,947.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,533 shares of company stock worth $1,709,321. 1.50% of the stock is currently owned by company insiders.

About Mattel

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.