Mattel Inc. (MAT) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Mattel Inc. (NASDAQ:MAT) released its quarterly earnings data on Wednesday. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $940.30 million. During the same quarter last year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis.
Mattel (NASDAQ:MAT) traded down 0.29% during mid-day trading on Wednesday, reaching $30.62. The company had a trading volume of 6,040,775 shares. The stock has a 50-day moving average of $31.35 and a 200 day moving average of $32.02. Mattel has a 12-month low of $22.63 and a 12-month high of $34.76. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 30.32 and a beta of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 22nd will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.96%. Mattel’s dividend payout ratio (DPR) is presently 149.02%.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total value of $239,286.96. Following the transaction, the executive vice president now owns 39,348 shares in the company, valued at $1,320,912.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Mattel by 23.9% in the second quarter. FMR LLC now owns 17,320,223 shares of the company’s stock worth $541,949,000 after buying an additional 3,344,171 shares in the last quarter. Analytic Investors LLC bought a new position in Mattel during the second quarter worth $31,717,000. Teachers Advisors Inc. raised its position in Mattel by 21.0% in the second quarter. Teachers Advisors Inc. now owns 5,493,939 shares of the company’s stock worth $171,905,000 after buying an additional 953,956 shares in the last quarter. BlackRock Fund Advisors raised its position in Mattel by 8.1% in the second quarter. BlackRock Fund Advisors now owns 9,984,611 shares of the company’s stock worth $312,418,000 after buying an additional 746,432 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Mattel by 96.0% in the second quarter. Lord Abbett & CO. LLC now owns 1,182,500 shares of the company’s stock worth $37,000,000 after buying an additional 579,200 shares in the last quarter. Institutional investors own 95.50% of the company’s stock.
Several equities analysts have recently weighed in on the company. Jefferies Group reiterated a “buy” rating and set a $36.00 price objective on shares of Mattel in a report on Thursday, October 13th. MKM Partners upgraded Mattel from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, October 10th. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of Mattel in a report on Tuesday, October 4th. Zacks Investment Research upgraded Mattel from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, September 21st. Finally, Monness Crespi & Hardt upgraded Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, September 19th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Mattel currently has an average rating of “Buy” and a consensus target price of $35.48.
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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