Mattel (NASDAQ:MAT) Announces Quarterly Earnings Results

Mattel (NASDAQ:MAT) announced its earnings results on Wednesday. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.19, Briefing.com reports. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was down 3.9% 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 Performance

NASDAQ:MAT opened at $19.00 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.58 and a quick ratio of 1.81. Mattel has a 1 year low of $15.87 and a 1 year high of $20.48. The stock’s 50 day simple moving average is $18.97 and its two-hundred day simple moving average is $18.28. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.99 and a beta of 0.79.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America lifted their price objective on Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com cut Mattel from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Morgan Stanley boosted their price target on Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.75.

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.