Mattel (NASDAQ:MAT) Updates FY24 Earnings Guidance

Mattel (NASDAQ:MAT) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.35-$1.45 for the period, compared to the consensus earnings per share estimate of $1.38.

Wall Street Analyst Weigh In

Several brokerages have commented on MAT. Roth Capital cut shares of Mattel from a buy rating to a neutral rating in a research report on Thursday, January 4th. DA Davidson raised their price target on shares of Mattel from $25.00 to $26.00 and gave the company a buy rating in a research report on Thursday, February 8th. Roth Mkm reissued a neutral rating and issued a $20.00 price target (down previously from $24.00) on shares of Mattel in a research report on Thursday, January 4th. Jefferies Financial Group raised their price objective on shares of Mattel from $19.00 to $20.00 and gave the company a hold rating in a report on Friday, March 15th. Finally, Morgan Stanley restated an equal weight rating and issued a $19.00 price objective (down from $25.00) on shares of Mattel in a report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $22.13.

Mattel Stock Up 0.6 %

Shares of MAT traded up $0.11 during mid-day trading on Tuesday, hitting $18.73. 3,699,293 shares of the company’s stock were exchanged, compared to its average volume of 2,976,055. The company has a market cap of $6.44 billion, a PE ratio of 30.53, a P/E/G ratio of 1.21 and a beta of 0.96. Mattel has a 52 week low of $16.20 and a 52 week high of $22.64. The company has a 50-day simple moving average of $19.30 and a 200 day simple moving average of $19.09. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.33 and a quick ratio of 1.90.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $809.50 million during the quarter, compared to analysts’ expectations of $833.52 million. Mattel had a net margin of 3.94% and a return on equity of 21.25%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS. On average, research analysts forecast that Mattel will post 1.37 earnings per share for the current fiscal year.

Mattel Company Profile

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.