Mattel (NASDAQ:MAT) Announces Earnings Results

Mattel (NASDAQ:MAT) announced its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) 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 the consensus estimate of $1.10 billion. Mattel had a net margin of 5.38% and a return on equity of 24.32%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $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 Stock Up 9.9 %

MAT traded up $1.70 during trading hours on Wednesday, reaching $18.94. 8,223,474 shares of the stock traded hands, compared to its average volume of 3,477,026. The firm’s fifty day simple moving average is $17.21 and its two-hundred day simple moving average is $18.30. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.19 and a beta of 0.86. Mattel has a fifty-two week low of $15.87 and a fifty-two week high of $22.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.49 and a quick ratio of 1.88.

Insider Buying and Selling at Mattel

In other news, insider Steve Totzke sold 23,662 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total value of $446,975.18. Following the transaction, the insider now directly owns 152,018 shares in the company, valued at approximately $2,871,620.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Steve Totzke sold 23,662 shares of Mattel stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total value of $446,975.18. Following the sale, the insider now directly owns 152,018 shares in the company, valued at approximately $2,871,620.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the firm’s 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 transaction, the executive vice president now directly owns 106,086 shares in the company, valued at approximately $1,997,599.38. The disclosure for this sale can be found here. Insiders have sold 90,533 shares of company stock worth $1,709,321 in the last ninety days. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Roth Mkm reissued a “neutral” rating and issued a $21.00 price target on shares of Mattel in a research report on Wednesday, April 24th. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup boosted their price target 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 reissued a “buy” rating and issued a $27.00 price target on shares of Mattel in a research report on Monday. Finally, Bank of America lifted their price objective on shares of Mattel from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.63.

Mattel Company Profile

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.