Mattel (NASDAQ:MAT) Releases Earnings Results

Mattel (NASDAQ:MAT) announced its earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02, Briefing.com reports. Mattel had a net margin of 5.94% and a return on equity of 25.42%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $0.10 earnings per share. Mattel’s quarterly revenue was down .7% on a year-over-year basis. Mattel updated its FY24 guidance to $1.35-$1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Down 0.1 %

NASDAQ:MAT traded down $0.02 on Thursday, hitting $18.91. 4,762,843 shares of the company’s stock were exchanged, compared to its average volume of 3,499,970. The firm has a 50-day moving average price of $17.21 and a 200-day moving average price of $18.30. Mattel has a 52 week low of $15.87 and a 52 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 company has a market cap of $6.51 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.10 and a beta of 0.86.

Analysts Set New Price Targets

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

Insider Activity

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

Mattel Company Profile

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.