Mattel (NASDAQ:MAT) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Mattel (NASDAQ:MAT) announced its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02, Briefing.com reports. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $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 Up 1.1 %

NASDAQ:MAT traded up $0.20 during mid-day trading on Friday, reaching $19.11. The company’s stock had a trading volume of 2,267,286 shares, compared to its average volume of 3,491,350. Mattel has a 1 year low of $15.87 and a 1 year high of $22.64. The stock has a fifty day moving average of $17.21 and a 200-day moving average of $18.31. The firm has a market capitalization of $6.58 billion, a PE 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.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Steve Totzke sold 45,216 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.90, for a total value of $854,582.40. Following the completion of the sale, the insider now directly owns 101,902 shares of the company’s stock, valued at $1,925,947.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Steve Totzke sold 45,216 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.90, for a total value of $854,582.40. Following the completion of the sale, the insider now directly owns 101,902 shares of the company’s stock, valued at $1,925,947.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total transaction of $407,763.65. Following the sale, the executive vice president now directly owns 106,086 shares of the company’s stock, valued at $1,997,599.38. The disclosure for this sale can be found here. Insiders sold a total of 90,533 shares of company stock valued at $1,709,321 over the last three months. 1.50% of the stock is owned by company insiders.

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.