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

Mattel (NASDAQ:MAT) posted its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07, RTT News reports. The company had revenue of $809.50 million for the quarter, compared to the consensus estimate of $833.52 million. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) 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 Down 0.2 %

Shares of NASDAQ:MAT traded down $0.04 during trading on Friday, reaching $18.43. 146,890 shares of the stock were exchanged, compared to its average volume of 2,997,289. The stock has a fifty day moving average of $19.30 and a two-hundred day moving average of $19.08. Mattel has a 1-year low of $16.20 and a 1-year high of $22.64. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.95. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.49 and a quick ratio of 1.90.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MAT shares. JPMorgan Chase & Co. lowered Mattel from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $24.00 to $19.00 in a research note on Monday, February 5th. StockNews.com upgraded shares of Mattel from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. Roth Mkm restated a “neutral” rating and set a $21.00 price target on shares of Mattel in a report on Wednesday. Stifel Nicolaus decreased their price target on shares of Mattel from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $19.00 price target (down from $25.00) on shares of Mattel in a research note on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.78.

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.