Mattel (NASDAQ:MAT) Issues Earnings Results, Beats Expectations By $0.19 EPS

Mattel (NASDAQ:MAT) announced its earnings results on Wednesday. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19, Briefing.com reports. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. Mattel updated its FY24 guidance to $1.35-1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Performance

Mattel stock opened at $18.57 on Friday. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79. Mattel has a 12 month low of $15.87 and a 12 month 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. The stock’s 50-day moving average is $18.98 and its 200-day moving average is $18.28.

Wall Street Analysts Forecast Growth

MAT has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted 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. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 1st. Bank of America raised their price objective on Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley upped their target price on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” 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.