Mattel (NASDAQ:MAT) Issues Earnings Results

Mattel (NASDAQ:MAT) released its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02, Briefing.com reports. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Mattel updated its FY24 guidance to $1.35-$1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Price Performance

MAT stock traded up $0.26 on Friday, reaching $19.17. The company had a trading volume of 2,681,979 shares, compared to its average volume of 3,494,250. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.88 and a current ratio of 2.58. The company’s fifty day moving average is $17.21 and its 200 day moving average is $18.31. The company has a market cap of $6.60 billion, a P/E ratio of 22.78, a PEG ratio of 1.19 and a beta of 0.86. Mattel has a 1 year low of $15.87 and a 1 year high of $22.64.

Insider Activity at Mattel

In other Mattel news, insider Steve Totzke sold 45,216 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $18.90, for a total transaction of $854,582.40. Following the transaction, the insider now 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 is accessible through the SEC website. In related news, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the business’s stock in a transaction that occurred on 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 directly owns 106,086 shares of the company’s stock, valued at approximately $1,997,599.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve Totzke sold 45,216 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $18.90, for a total transaction 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 approximately $1,925,947.80. The disclosure for this sale can be found here. Insiders have sold a total of 90,533 shares of company stock valued at $1,709,321 over the last quarter. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.