Mattel (NASDAQ:MAT) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Mattel (NASDAQ:MAT) posted its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07, RTT News reports. Mattel had a net margin of 3.94% and a return on equity of 21.25%. The company had revenue of $809.50 million for the quarter, compared to analyst estimates of $833.52 million. During the same quarter in the prior year, the business posted ($0.24) EPS. The firm’s revenue was down .6% compared to the same quarter last year. Mattel updated its FY24 guidance to $1.35-$1.45 EPS.

Mattel Stock Performance

Shares of Mattel stock traded up $0.11 on Tuesday, reaching $18.73. 3,664,048 shares of the company traded hands, compared to its average volume of 2,963,429. Mattel has a 52 week low of $16.20 and a 52 week high of $22.64. The company has a 50 day moving average of $19.30 and a 200 day moving average of $19.09. The firm has a market capitalization of $6.44 billion, a PE ratio of 30.53, a PEG ratio of 1.21 and a beta of 0.96. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.33 and a quick ratio of 1.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Roth Capital lowered shares of Mattel from a “buy” rating to a “neutral” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. lowered shares of Mattel from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $19.00 in a report on Monday, February 5th. Jefferies Financial Group upped their target price on shares of Mattel from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, March 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price objective (down previously from $25.00) on shares of Mattel in a research note on Wednesday, January 17th. Finally, TheStreet lowered shares of Mattel from a “b-” rating to a “c+” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.13.

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.