Mattel (NASDAQ:MAT) Announces Quarterly Earnings Results

Mattel (NASDAQ:MAT) released its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07, RTT News reports. Mattel had a net margin of 5.38% and a return on equity of 24.25%. The company had revenue of $809.50 million during the quarter, compared to the consensus estimate of $833.52 million. During the same period in the previous year, the firm earned ($0.24) earnings per share. Mattel’s revenue for the quarter was down .6% 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 Up 2.4 %

Shares of NASDAQ:MAT opened at $19.18 on Thursday. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. Mattel has a 1-year low of $16.20 and a 1-year high of $22.64. The company’s fifty day moving average is $19.30 and its two-hundred day moving average is $19.08. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.90 and a current ratio of 2.33.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Mattel from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. DA Davidson increased their price objective on shares of Mattel from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. 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. Finally, JPMorgan Chase & Co. downgraded shares of Mattel from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $19.00 in a research note on Monday, February 5th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.

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.