Mattel, Inc. (MAT) Downgraded to “Sell” at BidaskClub
BidaskClub lowered shares of Mattel, Inc. (NASDAQ:MAT) from a hold rating to a sell rating in a research note released on Saturday morning.
A number of other equities research analysts have also commented on MAT. UBS AG reiterated a buy rating and set a $29.00 price target on shares of Mattel in a report on Friday, May 19th. B. Riley reiterated a buy rating and set a $30.50 price target on shares of Mattel in a report on Wednesday, April 26th. BMO Capital Markets reiterated a buy rating on shares of Mattel in a report on Wednesday, June 7th. DA Davidson lowered shares of Mattel from a buy rating to a neutral rating and lowered their price target for the company from $30.00 to $24.00 in a report on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a hold rating and set a $19.00 price target on shares of Mattel in a report on Monday, June 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Mattel currently has a consensus rating of Hold and a consensus price target of $26.53.
Mattel (NASDAQ:MAT) opened at 18.41 on Friday. Mattel has a 1-year low of $18.32 and a 1-year high of $34.24. The company has a market cap of $6.32 billion, a P/E ratio of 26.41 and a beta of 0.84. The stock’s 50 day moving average is $20.61 and its 200 day moving average is $23.65.
Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.05. The business had revenue of $974.50 million during the quarter, compared to the consensus estimate of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Equities analysts anticipate that Mattel will post $0.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 annualized dividend and a yield of 3.26%. Mattel’s dividend payout ratio (DPR) is presently 220.29%.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of Mattel stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average cost of $19.61 per share, with a total value of $248,262.60. Following the transaction, the chief executive officer now directly owns 116,788 shares of the company’s stock, valued at $2,290,212.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Washington Trust Bank increased its stake in Mattel by 148.1% in the first quarter. Washington Trust Bank now owns 15,018 shares of the company’s stock worth $385,000 after buying an additional 8,966 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Mattel during the first quarter worth $1,032,000. Atria Investments LLC increased its stake in Mattel by 59.6% in the first quarter. Atria Investments LLC now owns 91,252 shares of the company’s stock worth $2,337,000 after buying an additional 34,079 shares in the last quarter. Visionary Asset Management Inc. increased its stake in Mattel by 31.6% in the first quarter. Visionary Asset Management Inc. now owns 115,162 shares of the company’s stock worth $2,949,000 after buying an additional 27,676 shares in the last quarter. Finally, ELM Advisors LLC increased its stake in Mattel by 10.9% in the first quarter. ELM Advisors LLC now owns 10,133 shares of the company’s stock worth $260,000 after buying an additional 1,000 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
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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