Mattel (NASDAQ:MAT) Releases FY23 Earnings Guidance

Mattel (NASDAQ:MAT – Get Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.10-1.20 for the period, compared to the consensus estimate of $1.28.

Mattel Trading Down 2.2 %

Shares of Mattel stock opened at $16.25 on Friday. The firm has a market capitalization of $5.78 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 4.30 and a beta of 1.20. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 1.13. The firm’s 50 day moving average is $18.92 and its 200 day moving average is $18.97. Mattel has a 1 year low of $15.36 and a 1 year high of $26.99.

Mattel (NASDAQ:MAT – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.11). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.68 billion. Mattel had a net margin of 7.25% and a return on equity of 24.47%. The company’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Equities research analysts forecast that Mattel will post 1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MAT has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of Mattel from $30.00 to $27.00 and set an outperform rating on the stock in a report on Friday, February 10th. StockNews.com initiated coverage on shares of Mattel in a report on Thursday. They set a hold rating on the stock. DA Davidson reissued a buy rating and set a $23.00 target price on shares of Mattel in a report on Thursday. UBS Group reduced their target price on shares of Mattel from $33.00 to $25.00 and set a buy rating on the stock in a report on Thursday, February 16th. Finally, Bank of America reduced their target price on shares of Mattel from $26.00 to $21.00 in a report on Friday, February 10th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $24.33.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Kinneret Advisory LLC lifted its position in shares of Mattel by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 23,608 shares of the company’s stock valued at $524,000 after acquiring an additional 528 shares during the period. Raymond James & Associates lifted its position in shares of Mattel by 5.3% during the 1st quarter. Raymond James & Associates now owns 12,092 shares of the company’s stock valued at $269,000 after acquiring an additional 604 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in shares of Mattel by 5.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 14,418 shares of the company’s stock valued at $320,000 after acquiring an additional 788 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Mattel by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 93,050 shares of the company’s stock valued at $2,078,000 after acquiring an additional 931 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Mattel by 2.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 39,485 shares of the company’s stock valued at $876,000 after acquiring an additional 948 shares during the period. Institutional investors and hedge funds own 96.93% of the company’s stock.

Mattel Company Profile

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Mattel, Inc engages in the ownership of children’s and family entertainment franchises. It operates through the following segments: North America, International, and American Girl. The North America and International segments focus on marketing and selling toys and consumer products. The American Girl segment includes marketing, retailing, and publishing dedicated to its mission to help girls grow up with confidence and character.