Mattel Inc. (MAT) Stock Rating Reaffirmed by BMO Capital Markets
Mattel Inc. (NASDAQ:MAT)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a report released on Tuesday. They presently have a $40.00 target price on the stock. BMO Capital Markets’ price target would indicate a potential upside of 30.80% from the stock’s previous close.
MAT has been the topic of a number of other reports. Vetr upgraded shares of Mattel from a “sell” rating to a “buy” rating and set a $36.30 price target on the stock in a research report on Monday, August 15th. Zacks Investment Research upgraded shares of Mattel from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, June 21st. MKM Partners reiterated a “hold” rating and issued a $33.00 target price on shares of Mattel in a report on Tuesday, July 12th. Monness Crespi & Hardt upgraded shares of Mattel from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Monday, September 19th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Mattel in a report on Friday, July 22nd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.48.
Mattel (NASDAQ:MAT) opened at 30.58 on Tuesday. Mattel has a 12 month low of $21.83 and a 12 month high of $34.76. The stock’s 50 day moving average is $32.22 and its 200-day moving average is $32.20. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 30.28 and a beta of 0.99.
Mattel (NASDAQ:MAT) last released its earnings results on Wednesday, July 20th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The business earned $957.30 million during the quarter, compared to analysts’ expectations of $937.85 million. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share. On average, equities research analysts expect that Mattel will post $1.34 earnings per share for the current year.
The business 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. This represents a $1.52 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, August 19th. Mattel’s payout ratio is 149.02%.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total value of $239,286.96. Following the completion of the transaction, the executive vice president now owns 39,348 shares in the company, valued at approximately $1,320,912.36. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bollard Group LLC boosted its position in shares of Mattel by 1.2% in the second quarter. Bollard Group LLC now owns 4,078 shares of the company’s stock valued at $128,000 after buying an additional 48 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in shares of Mattel by 130.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,258 shares of the company’s stock valued at $133,000 after buying an additional 2,410 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Mattel by 4.2% in the second quarter. Checchi Capital Advisers LLC now owns 5,573 shares of the company’s stock valued at $174,000 after buying an additional 226 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Mattel by 67.1% in the first quarter. IFP Advisors Inc now owns 5,265 shares of the company’s stock valued at $177,000 after buying an additional 2,114 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Mattel by 268.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,688 shares of the company’s stock valued at $178,000 after buying an additional 4,144 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.
Mattel Company Profile
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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