Mattel (NASDAQ:MAT) Shares Up 4.9% Following Earnings Beat

Mattel, Inc. (NASDAQ:MAT) shot up 4.9% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $20.07 and last traded at $19.64. 1,659,778 shares were traded during mid-day trading, a decline of 44% from the average session volume of 2,954,972 shares. The stock had previously closed at $18.73.

The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Mattel had a net margin of 5.38% and a return on equity of 24.25%. The company had revenue of $809.50 million during the quarter, compared to analysts’ expectations of $833.52 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Mattel’s revenue for the quarter was down .6% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MAT. Jefferies Financial Group raised their price target on shares of Mattel from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, March 15th. JPMorgan Chase & Co. cut shares of Mattel from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $19.00 in a report on Monday, February 5th. Citigroup raised their price target on shares of Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson raised their price target on shares of Mattel from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, TheStreet cut shares of Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.78.

Hedge Funds Weigh In On Mattel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its holdings in Mattel by 833.3% during the third quarter. Trust Co. of Vermont now owns 1,120 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares in the last quarter. Clearstead Advisors LLC purchased a new position in Mattel during the third quarter valued at $52,000. Y.D. More Investments Ltd purchased a new position in Mattel during the third quarter valued at $53,000. Fifth Third Bancorp lifted its holdings in Mattel by 23.3% during 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 in the last quarter. Finally, Partnership Wealth Management LLC purchased a new position in Mattel during the fourth quarter valued at $61,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

Mattel Trading Down 3.7 %

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 PE ratio of 22.25, a P/E/G ratio of 1.25 and a beta of 0.95. The company’s fifty day simple moving average is $19.30 and its 200-day simple moving average is $19.08.

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.