Mattel (NASDAQ:MAT) Announces Earnings Results, Beats Estimates By $0.19 EPS

Mattel (NASDAQ:MAT) announced its earnings results on Wednesday. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19, Briefing.com reports. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $1.08 earnings per share. Mattel’s quarterly 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 NASDAQ MAT traded up $0.79 during mid-day trading on Thursday, reaching $18.57. 4,836,099 shares of the company’s stock traded hands, compared to its average volume of 3,146,207. The stock has a market cap of $6.39 billion, a P/E ratio of 22.37, a PEG ratio of 1.25 and a beta of 0.79. The business has a 50-day simple moving average of $18.98 and a 200 day simple moving average of $18.28. Mattel has a 1-year low of $15.87 and a 1-year high of $20.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.58 and a quick ratio of 1.81.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MAT shares. Bank of America lifted their target price on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday. DA Davidson reissued a “buy” rating and set a $27.00 target price on shares of Mattel in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley raised their price target on shares of Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Mattel from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

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.