Mattel (NASDAQ:MAT) Releases FY24 Earnings Guidance

Mattel (NASDAQ:MAT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.35-1.45 for the period, compared to the consensus estimate of $1.44. Mattel also updated its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Performance

Shares of NASDAQ:MAT traded up $0.81 during trading on Thursday, hitting $18.59. 3,366,931 shares of the stock traded hands, compared to its average volume of 3,139,075. 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 fifty day moving average price of $18.99 and a two-hundred day moving average price of $18.28. Mattel has a 52-week low of $15.87 and a 52-week high of $20.48. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 1.25 and a beta of 0.79.

Mattel (NASDAQ:MAT) last released 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. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts predict that Mattel will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

MAT has been the subject of a number of analyst reports. StockNews.com raised Mattel from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America lifted their price target on shares of Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. Jefferies Financial Group increased their price objective on shares of Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 1st. Finally, DA Davidson restated a “buy” rating and set a $27.00 price target on shares of Mattel in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.75.

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.