Mattel Inc. (MAT) Lifted to “Buy” at Monness Crespi & Hardt
Monness Crespi & Hardt upgraded shares of Mattel Inc. (NASDAQ:MAT) from a neutral rating to a buy rating in a research report sent to investors on Monday. They currently have $37.00 price target on the stock.
Several other research firms have also recently weighed in on MAT. Vetr upgraded Mattel from a buy rating to a strong-buy rating and set a $41.14 price objective for the company in a report on Monday, August 29th. Citigroup Inc. increased their price objective on Mattel from $36.00 to $38.00 and gave the stock a buy rating in a report on Monday, August 15th. B. Riley reiterated a buy rating and issued a $38.00 price objective on shares of Mattel in a report on Tuesday, July 26th. Piper Jaffray Cos. reiterated a neutral rating and issued a $30.00 price objective (up previously from $28.00) on shares of Mattel in a report on Friday, July 22nd. Finally, Jefferies Group set a $36.00 price objective on Mattel and gave the stock a buy rating in a report on Thursday, July 21st. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $35.07.
Mattel (NASDAQ:MAT) opened at 31.87 on Monday. Mattel has a 12 month low of $19.45 and a 12 month high of $34.76. The stock has a market cap of $10.86 billion, a PE ratio of 31.55 and a beta of 0.93. The company’s 50 day moving average price is $32.98 and its 200 day moving average price is $32.33.
Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company earned $957.30 million during the quarter, compared to analysts’ expectations of $937.85 million. Mattel had a return on equity of 16.23% and a net margin of 6.17%. Mattel’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Equities analysts forecast that Mattel will post $1.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 23rd were issued a $0.38 dividend. The ex-dividend date was Friday, August 19th. This represents a $1.52 annualized dividend and a dividend yield of 4.77%. Mattel’s dividend payout ratio (DPR) is 149.02%.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total value of $239,286.96. Following the sale, the executive vice president now directly owns 39,348 shares of the company’s stock, valued at $1,320,912.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Mattel by 23.9% in the second quarter. FMR LLC now owns 17,320,223 shares of the company’s stock valued at $541,949,000 after buying an additional 3,344,171 shares during the period. Norges Bank purchased a new stake in shares of Mattel during the fourth quarter valued at about $84,280,000. Renaissance Technologies LLC purchased a new stake in shares of Mattel during the first quarter valued at about $51,966,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Mattel during the first quarter valued at about $51,814,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Mattel by 2,326.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,600,656 shares of the company’s stock valued at $50,085,000 after buying an additional 1,534,681 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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