Mattel (NASDAQ:MAT) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Mattel (NASDAQ:MAT) announced its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07, RTT News reports. Mattel had a net margin of 5.38% and a return on equity of 24.25%. The company had revenue of $809.50 million during the quarter, compared to analysts’ expectations of $833.52 million. During the same quarter in the prior year, the company earned ($0.24) EPS. Mattel’s revenue was down .6% 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 Price Performance

Shares of MAT opened at $19.18 on Thursday. Mattel has a fifty-two week low of $16.20 and a fifty-two week high of $22.64. The firm’s 50 day moving average price is $19.30 and its 200 day moving average price is $19.08. The company has a market cap of $6.60 billion, a P/E ratio of 23.11, a PEG ratio of 1.25 and a beta of 0.95. The company has a quick ratio of 1.90, a current ratio of 2.33 and a debt-to-equity ratio of 1.08.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MAT. StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Jefferies Financial Group boosted their target price on shares of Mattel from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, March 15th. TheStreet lowered shares of Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Stifel Nicolaus decreased their target price on shares of Mattel from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $21.00 target price on shares of Mattel in a report on Wednesday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Mattel presently has an average rating of “Moderate Buy” and a consensus price target of $22.78.

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.