Mattel (NASDAQ:MAT) Releases FY 2024 Earnings Guidance

Mattel (NASDAQ:MAT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.350-1.450 for the period, compared to the consensus estimate of 1.440. The company issued revenue guidance of -. Mattel also updated its FY24 guidance to $1.35-1.45 EPS.

Mattel Stock Down 1.8 %

Mattel stock traded down $0.33 during mid-day trading on Wednesday, reaching $17.78. 4,062,558 shares of the company’s stock were exchanged, compared to its average volume of 3,137,941. The company has a quick ratio of 1.81, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. The company has a market cap of $6.12 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.25 and a beta of 0.79. The company has a fifty day moving average of $19.02 and a 200-day moving average of $18.29. Mattel has a twelve month low of $15.87 and a twelve month high of $20.48.

Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. Sell-side analysts expect that Mattel will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MAT. StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group lifted their target price on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 1st. DA Davidson reiterated a “buy” rating and issued a $27.00 price target on shares of Mattel in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.13.

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.