Mattel (NASDAQ:MAT) Releases Earnings Results, Beats Estimates By $0.02 EPS

Mattel (NASDAQ:MAT) announced its quarterly earnings data on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02, Briefing.com reports. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mattel had a return on equity of 25.42% and a net margin of 5.94%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. 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 NASDAQ:MAT traded down $0.02 during midday trading on Thursday, reaching $18.91. 4,762,843 shares of the company’s stock traded hands, compared to its average volume of 3,499,970. The company has a market cap of $6.51 billion, a P/E ratio of 22.78, a PEG ratio of 1.10 and a beta of 0.86. The company has a fifty day simple moving average of $17.21 and a two-hundred day simple moving average of $18.30. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.88 and a current ratio of 2.49. Mattel has a 1 year low of $15.87 and a 1 year high of $22.64.

Insiders Place Their Bets

In other Mattel news, insider Steve Totzke sold 23,662 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $18.89, for a total transaction of $446,975.18. Following the completion of the transaction, the insider now owns 152,018 shares of the company’s stock, valued at $2,871,620.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Steve Totzke sold 23,662 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $18.89, for a total transaction of $446,975.18. Following the transaction, the insider now directly owns 152,018 shares in the company, valued at $2,871,620.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total transaction of $407,763.65. Following the completion of the sale, the executive vice president now owns 106,086 shares of the company’s stock, valued at approximately $1,997,599.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,533 shares of company stock worth $1,709,321. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

MAT has been the topic of several recent research reports. StockNews.com downgraded shares of Mattel from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup increased their price target on Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. DA Davidson reiterated a “buy” rating and set a $27.00 price objective on shares of Mattel in a research note on Monday. Bank of America upped their target price on Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Roth Mkm reiterated a “neutral” rating and set a $21.00 price target on shares of Mattel in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mattel currently has an average rating of “Hold” and a consensus target price of $22.63.

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.