Mattel (NASDAQ:MAT) Updates FY23 Earnings Guidance

Mattel (NASDAQ:MAT – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share guidance of $1.10-1.20 for the period, compared to the consensus earnings per share estimate of $1.28.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Mattel from $33.00 to $25.00 and set a buy rating for the company in a report on Thursday, February 16th. Stifel Nicolaus decreased their price objective on shares of Mattel from $29.00 to $26.00 and set a buy rating for the company in a report on Tuesday, January 3rd. TheStreet downgraded shares of Mattel from a b- rating to a c+ rating in a report on Wednesday, March 1st. Bank of America decreased their price objective on shares of Mattel from $26.00 to $21.00 in a report on Friday, February 10th. Finally, DA Davidson restated a buy rating and set a $23.00 price objective on shares of Mattel in a report on Thursday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Mattel currently has a consensus rating of Moderate Buy and an average target price of $24.33.

Mattel Price Performance

MAT opened at $16.25 on Friday. The firm has a 50-day moving average price of $18.92 and a 200-day moving average price of $18.97. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.30 and a beta of 1.20. Mattel has a twelve month low of $15.36 and a twelve month high of $26.99. The company has a quick ratio of 1.54, a current ratio of 2.30 and a debt-to-equity ratio of 1.13.

Mattel (NASDAQ:MAT – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.11). The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Mattel had a net margin of 7.25% and a return on equity of 24.47%. Mattel’s revenue was down 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Equities analysts expect that Mattel will post 1.15 EPS for the current year.

Hedge Funds Weigh In On Mattel

Several hedge funds have recently bought and sold shares of MAT. Money Concepts Capital Corp purchased a new position in Mattel during the fourth quarter valued at approximately $29,000. Lazard Asset Management LLC purchased a new position in Mattel during the first quarter valued at approximately $86,000. Captrust Financial Advisors lifted its position in Mattel by 28.8% during the second quarter. Captrust Financial Advisors now owns 5,855 shares of the company’s stock valued at $131,000 after purchasing an additional 1,308 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Mattel during the fourth quarter valued at approximately $180,000. Finally, CI Private Wealth LLC bought a new stake in Mattel during the fourth quarter valued at approximately $182,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.

Mattel Company Profile

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Mattel, Inc engages in the ownership of children’s and family entertainment franchises. It operates through the following segments: North America, International, and American Girl. The North America and International segments focus on marketing and selling toys and consumer products. The American Girl segment includes marketing, retailing, and publishing dedicated to its mission to help girls grow up with confidence and character.