Mattel (NASDAQ:MAT) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Mattel (NASDAQ:MAT) released its earnings results on Wednesday. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19, Briefing.com reports. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. 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 stock opened at $19.00 on Friday. Mattel has a twelve month low of $15.87 and a twelve month high of $20.48. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 0.99 and a beta of 0.79. The stock has a fifty day simple moving average of $18.97 and a two-hundred day simple moving average of $18.28. The company has a current ratio of 2.58, a quick ratio of 1.81 and a debt-to-equity ratio of 1.18.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MAT shares. Morgan Stanley boosted their target price on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Bank of America boosted their price objective on Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday. DA Davidson restated a “buy” rating and set a $27.00 price objective on shares of Mattel in a report on Thursday. Finally, StockNews.com cut Mattel from a “buy” rating to a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.75.

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.