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

Mattel (NASDAQ:MAT) released its quarterly earnings results on Wednesday. The company reported $1.14 EPS 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 firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Mattel updated its FY24 guidance to $1.35-1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Trading Up 4.4 %

NASDAQ MAT opened at $18.57 on Friday. The company’s 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $18.28. Mattel has a one year low of $15.87 and a one year high of $20.48. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.81 and a current ratio of 2.58.

Analyst Ratings Changes

MAT has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday. DA Davidson restated a “buy” rating and set a $27.00 price objective on shares of Mattel in a report on Thursday. Morgan Stanley increased their target price on Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com downgraded Mattel from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Jefferies Financial Group upped their price target on shares of Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.