Mattel (NASDAQ:MAT) Issues Earnings Results

Mattel (NASDAQ:MAT) released its earnings results on Wednesday. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19, Briefing.com reports. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Mattel updated its FY24 guidance to $1.35-1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Performance

Shares of NASDAQ:MAT traded up $0.43 on Friday, hitting $19.00. The company’s stock had a trading volume of 3,655,594 shares, compared to its average volume of 3,148,911. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.81 and a current ratio of 2.58. Mattel has a 12 month low of $15.87 and a 12 month high of $20.48. The stock’s 50-day moving average is $18.98 and its two-hundred day moving average is $18.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised their price target on Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group increased their target price on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, October 1st. Finally, DA Davidson reissued a “buy” rating and set a $27.00 price target on shares of Mattel in a report on Thursday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mattel presently has an average rating of “Hold” and an average price target of $23.75.

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.