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

Mattel, Inc. (NASDAQ:MAT) – Roth Capital raised their FY2024 earnings per share estimates for Mattel in a report released on Wednesday, April 24th. Roth Capital analyst E. Handler now expects that the company will post earnings of $1.41 per share for the year, up from their prior estimate of $1.38. Roth Capital has a “Neutral” rating on the stock. The consensus estimate for Mattel’s current full-year earnings is $1.37 per share.

Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Mattel had a return on equity of 24.25% and a net margin of 5.38%. The firm had revenue of $809.50 million during the quarter, compared to analysts’ expectations of $833.52 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The company’s revenue was down .6% on a year-over-year basis.

Several other research analysts have also recently weighed in on the company. DA Davidson boosted their price target on Mattel from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus cut their price objective on Mattel from $26.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. TheStreet lowered Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Morgan Stanley reissued an “equal weight” rating and set a $19.00 price target (down previously from $25.00) on shares of Mattel in a report on Wednesday, January 17th. Finally, Citigroup boosted their price target on Mattel from $25.00 to $26.00 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.78.

Mattel Stock Down 3.7 %

MAT stock opened at $18.47 on Thursday. Mattel has a 1-year low of $16.20 and a 1-year high of $22.64. The business has a fifty day moving average price of $19.30 and a 200-day moving average price of $19.08. 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 stock 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.

Institutional Investors Weigh In On Mattel

A number of hedge funds have recently made changes to their positions in MAT. Handelsbanken Fonder AB raised its position in Mattel by 17.2% during the third quarter. Handelsbanken Fonder AB now owns 64,100 shares of the company’s stock valued at $1,412,000 after purchasing an additional 9,400 shares during the period. Commonwealth Equity Services LLC raised its position in Mattel by 11.6% during the third quarter. Commonwealth Equity Services LLC now owns 19,199 shares of the company’s stock valued at $423,000 after purchasing an additional 1,988 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Mattel during the third quarter valued at approximately $286,000. Xponance Inc. raised its position in Mattel by 6.1% during the third quarter. Xponance Inc. now owns 45,618 shares of the company’s stock valued at $1,005,000 after purchasing an additional 2,629 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Mattel during the third quarter valued at approximately $468,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

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.