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

Mattel (NASDAQ:MAT) posted its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07, RTT News reports. The business had revenue of $809.50 million during the quarter, compared to analyst estimates of $833.52 million. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) EPS. Mattel updated its FY24 guidance to $1.35-$1.45 EPS and its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Down 0.2 %

Shares of NASDAQ:MAT traded down $0.04 on Friday, reaching $18.43. The company had a trading volume of 146,890 shares, compared to its average volume of 2,997,289. Mattel has a 52-week low of $16.20 and a 52-week high of $22.64. The firm’s 50 day simple moving average is $19.30 and its 200-day simple moving average is $19.08. The firm has a market capitalization of $6.34 billion, a PE ratio of 22.25, a PEG ratio of 1.26 and a beta of 0.95. The company has a current ratio of 2.49, a quick ratio of 1.90 and a debt-to-equity ratio of 1.15.

Analyst Ratings Changes

Several brokerages have weighed in on MAT. Roth Capital downgraded Mattel from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Stifel Nicolaus reduced their price target on Mattel from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. DA Davidson increased their target price on Mattel from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (down previously from $25.00) on shares of Mattel in a report on Wednesday, January 17th. Finally, TheStreet cut Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.78.

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.