KeyCorp Analysts Lift Earnings Estimates for Mattel, Inc. (NASDAQ:MAT)

Mattel, Inc. (NASDAQ:MAT – Get Rating) – Equities research analysts at KeyCorp increased their Q2 2022 earnings estimates for Mattel in a research report issued to clients and investors on Sunday, May 1st. KeyCorp analyst B. Andress now expects that the company will earn $0.06 per share for the quarter, up from their prior forecast of $0.04. KeyCorp also issued estimates for Mattel’s Q4 2022 earnings at $0.55 EPS and Q1 2023 earnings at $0.09 EPS.

Mattel (NASDAQ:MAT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.12. Mattel had a net margin of 18.75% and a return on equity of 42.01%. During the same quarter in the prior year, the company posted ($0.10) earnings per share.

A number of other analysts also recently issued reports on MAT. MKM Partners upgraded shares of Mattel from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $30.00 in a report on Thursday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of Mattel from $31.00 to $33.00 in a research report on Thursday, February 10th. Stifel Nicolaus raised shares of Mattel from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $33.00 in a research report on Thursday, February 24th. Monness Crespi & Hardt increased their price objective on shares of Mattel from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 10th. Finally, StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Mattel presently has a consensus rating of “Buy” and a consensus target price of $32.29.

Shares of NASDAQ MAT opened at $25.99 on Wednesday. The company has a 50 day simple moving average of $23.32 and a 200-day simple moving average of $22.34. The company has a market capitalization of $9.16 billion, a P/E ratio of 8.78 and a beta of 1.26. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.71 and a quick ratio of 1.08. Mattel has a 1 year low of $17.94 and a 1 year high of $26.20.

Hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC increased its stake in Mattel by 22.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 2,459 shares of the company’s stock valued at $46,000 after purchasing an additional 448 shares during the period. Hardy Reed LLC acquired a new position in Mattel in the first quarter valued at $46,000. Covestor Ltd acquired a new position in Mattel in the fourth quarter valued at $52,000. Maverick Capital Ltd. increased its stake in Mattel by 54.8% in the third quarter. Maverick Capital Ltd. now owns 3,654 shares of the company’s stock valued at $68,000 after purchasing an additional 1,293 shares during the period. Finally, US Bancorp DE increased its stake in Mattel by 16.0% in the third quarter. US Bancorp DE now owns 4,378 shares of the company’s stock valued at $81,000 after purchasing an additional 604 shares during the period. Institutional investors own 97.94% of the company’s stock.

In related news, EVP Zanatta Roberto Jacobo Isaias sold 51,761 shares of Mattel stock in a transaction on Monday, February 14th. The shares were sold at an average price of $24.50, for a total transaction of $1,268,144.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Todd Bradley sold 9,000 shares of Mattel stock in a transaction on Monday, February 14th. The stock was sold at an average price of $24.54, for a total transaction of $220,860.00. The disclosure for this sale can be found here. Company insiders own 1.84% of the company’s stock.

Mattel Company Profile (Get Rating)

Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as content, gaming, and lifestyle products for children under the Barbie, Monster High, American Girl, Polly Pocket, Spirit, and Enchantimals brands; dolls and books under the American Girl brand name; die-cast vehicles, tracks, playsets, and accessories for kids of all ages, and collectors under the Hot Wheels, Monster Trucks, Matchbox, CARS, and Mario Kart brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends, Power wheels, and Fireman Sam brands.

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