Mattel (NASDAQ:MAT) Announces Earnings Results

Mattel (NASDAQ:MAT) posted its quarterly earnings results on Tuesday. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02, Briefing.com reports. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. Mattel updated its FY24 guidance to $1.35-$1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Up 1.1 %

Mattel stock traded up $0.20 during midday trading on Friday, hitting $19.11. 2,267,286 shares of the stock were exchanged, compared to its average volume of 3,491,350. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 1.88, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. Mattel has a 52-week low of $15.87 and a 52-week high of $22.64. The business’s 50-day moving average price is $17.21 and its 200-day moving average price is $18.31.

Insiders Place Their Bets

In other news, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 106,086 shares of the company’s stock, valued at $1,997,599.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Steve Totzke sold 23,662 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $18.89, for a total transaction of $446,975.18. Following the completion of the transaction, the insider now owns 152,018 shares of the company’s stock, valued at $2,871,620.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total transaction of $407,763.65. Following the transaction, the executive vice president now directly owns 106,086 shares of the company’s stock, valued at approximately $1,997,599.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,533 shares of company stock valued at $1,709,321. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MAT shares. Bank of America lifted their price objective on shares of Mattel from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup lifted their price objective on shares of Mattel from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Roth Mkm reiterated a “neutral” rating and set a $21.00 price objective on shares of Mattel in a report on Wednesday, April 24th. Finally, DA Davidson reiterated a “buy” rating and set a $27.00 price objective on shares of Mattel in a report on Monday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.63.

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.