Mattel (NASDAQ:MAT) Announces Quarterly Earnings Results

Mattel (NASDAQ:MAT) released its quarterly earnings data on Wednesday. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19, Briefing.com reports. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue was down 3.9% 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 4.4 %

Shares of MAT opened at $18.57 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.81 and a debt-to-equity ratio of 1.18. Mattel has a 12 month low of $15.87 and a 12 month high of $20.48. The firm’s 50 day moving average is $18.98 and its 200-day moving average is $18.28. The stock has a market capitalization of $6.39 billion, a PE ratio of 22.37, a P/E/G ratio of 1.25 and a beta of 0.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MAT shares. DA Davidson restated a “buy” rating and issued a $27.00 price target on shares of Mattel in a research note on Thursday. Bank of America increased their price objective on shares of Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. StockNews.com lowered shares of Mattel from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised 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. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Mattel currently has a consensus rating of “Hold” and a consensus 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.