Mattel, Inc. (NASDAQ:MAT) Forecasted to Post FY2024 Earnings of $1.41 Per Share

Mattel, Inc. (NASDAQ:MAT) – Research analysts at Roth Capital boosted their FY2024 earnings estimates for shares of Mattel in a note issued to investors on Wednesday, April 24th. Roth Capital analyst E. Handler now anticipates that the company will post earnings of $1.41 per share for the year, up from their previous estimate of $1.38. Roth Capital currently has a “Neutral” rating on the stock. The consensus estimate for Mattel’s current full-year earnings is $1.37 per share.

A number of other research firms have also commented on MAT. 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. Jefferies Financial Group lifted their price objective on shares of Mattel from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Roth Mkm restated a “neutral” rating and issued a $21.00 price objective on shares of Mattel in a research note on Wednesday. TheStreet downgraded shares of Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Finally, DA Davidson lifted their target price on shares of Mattel from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mattel has a consensus rating of “Moderate Buy” and an average target price of $22.78.

Mattel Price Performance

Shares of NASDAQ:MAT opened at $18.47 on Thursday. The company’s fifty day moving average price is $19.30 and its 200 day moving average price is $19.08. Mattel has a 12 month low of $16.20 and a 12 month high of $22.64. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.33 and a quick ratio of 1.90. The firm has a market capitalization of $6.35 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.25 and a beta of 0.95.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. Mattel had a net margin of 5.38% and a return on equity of 24.25%. The firm had revenue of $809.50 million for the quarter, compared to analyst estimates of $833.52 million. During the same period last year, the business earned ($0.24) EPS. Mattel’s revenue for the quarter was down .6% compared to the same quarter last year.

Hedge Funds Weigh In On Mattel

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont increased its position in shares of Mattel by 833.3% in the third quarter. Trust Co. of Vermont now owns 1,120 shares of the company’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Clearstead Advisors LLC purchased a new position in shares of Mattel in the third quarter valued at $52,000. Y.D. More Investments Ltd purchased a new position in shares of Mattel in the third quarter valued at $53,000. Fifth Third Bancorp boosted its stake in shares of Mattel by 23.3% in the third quarter. Fifth Third Bancorp now owns 2,908 shares of the company’s stock valued at $64,000 after purchasing an additional 550 shares during the period. Finally, Partnership Wealth Management LLC purchased a new position in shares of Mattel in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 97.15% of the company’s stock.

About Mattel

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.