Mattel (NASDAQ:MAT) Announces Earnings Results, Beats Expectations By $0.07 EPS

Mattel (NASDAQ:MAT) issued its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07, RTT News reports. Mattel had a return on equity of 21.25% and a net margin of 3.94%. The firm had revenue of $809.50 million for the quarter, compared to analyst estimates of $833.52 million. During the same quarter in the prior 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 0.6 %

NASDAQ MAT opened at $18.73 on Wednesday. The business has a fifty day moving average price of $19.30 and a 200 day moving average price of $19.08. Mattel has a one year low of $16.20 and a one year high of $22.64. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.90 and a current ratio of 2.33. The company has a market cap of $6.44 billion, a P/E ratio of 30.71, a P/E/G ratio of 1.24 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MAT shares. Jefferies Financial Group upped their price objective on Mattel from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. DA Davidson upped their price objective on Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. TheStreet lowered Mattel from a “b-” rating to a “c+” rating in a research report on Wednesday, January 24th. Morgan Stanley restated an “equal weight” rating and issued a $19.00 price objective (down previously from $25.00) on shares of Mattel in a research report on Wednesday, January 17th. Finally, StockNews.com upgraded Mattel from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.13.

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.