Mattel (NASDAQ:MAT) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

by · The Markets Daily

Mattel (NASDAQ:MAT – Get Free Report) announced its earnings results on Wednesday. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.19, Briefing.com reports. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. 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

Shares of MAT stock traded up $0.79 during mid-day trading on Thursday, hitting $18.57. The company had a trading volume of 4,836,099 shares, compared to its average volume of 3,146,207. Mattel has a 52-week low of $15.87 and a 52-week high of $20.48. The stock’s 50 day moving average price is $18.98 and its 200-day moving average price is $18.28. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.58 and a quick ratio of 1.81. The company has a market capitalization of $6.39 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.25 and a beta of 0.79.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MAT shares. JPMorgan Chase & Co. upped their price target on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com lowered shares of Mattel from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley upped their price target on shares of Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday. DA Davidson reiterated a “buy” rating and issued a $27.00 price target on shares of Mattel in a research report on Thursday. Finally, Jefferies Financial Group upped their price target on shares of Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.75.

Check Out Our Latest Stock Analysis on MAT

Mattel Company Profile

(Get Free Report)

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.

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