Mattel (NASDAQ:MAT) Releases FY24 Earnings Guidance

Mattel (NASDAQ:MAT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.35-1.45 for the period, compared to the consensus estimate of $1.44. Mattel also updated its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Up 2.3 %

Shares of NASDAQ:MAT opened at $19.00 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $18.97 and a two-hundred day moving average of $18.28. The stock has a market cap of $6.46 billion, a P/E ratio of 20.65, a PEG ratio of 0.99 and a beta of 0.79. Mattel has a 52-week low of $15.87 and a 52-week high of $20.48.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.95 by $0.19. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, research analysts expect that Mattel will post 1.44 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MAT. StockNews.com lowered Mattel from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America upped their price target on Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Jefferies Financial Group upped their price target on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, October 1st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $27.00 price target on shares of Mattel in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Mattel presently has an average rating of “Hold” and a consensus price target of $23.75.

Mattel Company Profile

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.