Mattel (NASDAQ:MAT) Updates FY 2024 Earnings Guidance

Mattel (NASDAQ:MAT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.350-1.450 for the period, compared to the consensus earnings per share estimate of 1.390. The company issued revenue guidance of -. Mattel also updated its FY24 guidance to $1.35-$1.45 EPS.

Mattel Trading Up 0.6 %

MAT stock traded up $0.11 during mid-day trading on Tuesday, reaching $18.73. The company had a trading volume of 3,704,040 shares, compared to its average volume of 2,976,499. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.33 and a quick ratio of 1.90. The company has a market capitalization of $6.44 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.21 and a beta of 0.96. The firm has a 50 day moving average of $19.30 and a 200 day moving average of $19.08. Mattel has a 12 month low of $16.20 and a 12 month high of $22.64.

Mattel (NASDAQ:MAT) last issued its earnings results on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $809.50 million for the quarter, compared to the consensus estimate of $833.52 million. Mattel had a net margin of 3.94% and a return on equity of 21.25%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. On average, equities analysts predict that Mattel will post 1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MAT has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Mattel from $26.00 to $23.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley reiterated an equal weight rating and set a $19.00 price objective (down from $25.00) on shares of Mattel in a research note on Wednesday, January 17th. JPMorgan Chase & Co. downgraded shares of Mattel from an overweight rating to a neutral rating and dropped their price objective for the company from $24.00 to $19.00 in a research note on Monday, February 5th. Jefferies Financial Group increased their price objective on shares of Mattel from $19.00 to $20.00 and gave the company a hold rating in a research note on Friday, March 15th. Finally, Roth Capital downgraded shares of Mattel from a buy rating to a neutral rating in a research note on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $22.13.

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.