Mattel (NASDAQ:MAT) Trading 4.9% Higher Following Strong Earnings

Mattel, Inc. (NASDAQ:MAT) shares traded up 4.9% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $20.07 and last traded at $19.64. 1,659,778 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,954,972 shares. The stock had previously closed at $18.73.

The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 21.25% and a net margin of 3.94%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.24) EPS.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered Mattel from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $24.00 to $19.00 in a report on Monday, February 5th. Stifel Nicolaus cut their price objective on Mattel from $26.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.00 price objective (down previously from $25.00) on shares of Mattel in a report on Wednesday, January 17th. StockNews.com raised Mattel from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Finally, Jefferies Financial Group lifted their price objective on Mattel from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mattel presently has an average rating of “Moderate Buy” and a consensus price target of $22.38.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jericho Capital Asset Management L.P. bought a new stake in Mattel during the 3rd quarter valued at $76,819,000. Stifel Financial Corp boosted its position in Mattel by 161.8% during the 3rd quarter. Stifel Financial Corp now owns 146,494 shares of the company’s stock valued at $3,227,000 after acquiring an additional 90,539 shares in the last quarter. Seven Eight Capital LP boosted its position in Mattel by 548.8% during the 3rd quarter. Seven Eight Capital LP now owns 75,114 shares of the company’s stock valued at $1,655,000 after acquiring an additional 63,536 shares in the last quarter. Trexquant Investment LP boosted its position in Mattel by 256.4% during the 3rd quarter. Trexquant Investment LP now owns 287,342 shares of the company’s stock valued at $6,330,000 after acquiring an additional 206,729 shares in the last quarter. Finally, Xponance Inc. boosted its position in Mattel by 6.1% during the 3rd quarter. Xponance Inc. now owns 45,618 shares of the company’s stock valued at $1,005,000 after acquiring an additional 2,629 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

Mattel Price Performance

The company has a current ratio of 2.33, a quick ratio of 1.90 and a debt-to-equity ratio of 1.08. The firm has a market cap of $6.78 billion, a P/E ratio of 32.46, a PEG ratio of 1.24 and a beta of 0.95. The firm has a 50-day simple moving average of $19.30 and a 200-day simple moving average of $19.08.

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.