Mattel Inc. (MAT) Stock Rating Reaffirmed by BMO Capital Markets
Mattel Inc. (NASDAQ:MAT)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a report issued on Tuesday. They presently have a $40.00 price objective on the stock. BMO Capital Markets’ price target would indicate a potential upside of 32.41% from the stock’s previous close.
Several other equities analysts have also issued reports on MAT. Zacks Investment Research upgraded Mattel from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, June 21st. Monness Crespi & Hardt upgraded Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, September 19th. Citigroup Inc. boosted their price target on Mattel from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Vetr upgraded Mattel from a “sell” rating to a “buy” rating and set a $36.30 price target on the stock in a research note on Monday, August 15th. Finally, B. Riley restated a “buy” rating and set a $38.00 price target on shares of Mattel in a research note on Tuesday, July 26th. Six investment 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.48.
Shares of Mattel (NASDAQ:MAT) traded down 1.82% during mid-day trading on Tuesday, reaching $30.21. The company’s stock had a trading volume of 4,238,721 shares. The firm has a market capitalization of $10.29 billion, a P/E ratio of 29.91 and a beta of 0.99. Mattel has a 12 month low of $21.09 and a 12 month high of $34.76. The company has a 50 day moving average of $32.41 and a 200-day moving average of $32.23.
Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Wednesday, July 20th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Mattel had a return on equity of 16.23% and a net margin of 6.17%. The business earned $957.30 million during the quarter, compared to analysts’ expectations of $937.85 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts forecast that Mattel will post $1.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Friday, August 19th. Mattel’s dividend payout ratio is 149.02%.
In other Mattel news, EVP Geoffrey H. Walker sold 7,128 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total transaction of $239,286.96. Following the transaction, the executive vice president now owns 39,348 shares of the company’s stock, valued at approximately $1,320,912.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Mattel by 3.5% in the second quarter. Vanguard Group Inc. now owns 30,549,988 shares of the company’s stock worth $955,908,000 after buying an additional 1,019,897 shares during the period. FMR LLC increased 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 during the period. Janus Capital Management LLC increased its position in Mattel by 2.4% in the second quarter. Janus Capital Management LLC now owns 13,524,795 shares of the company’s stock worth $423,187,000 after buying an additional 316,838 shares during the period. Bank of New York Mellon Corp increased its position in Mattel by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 10,548,923 shares of the company’s stock worth $330,074,000 after buying an additional 291,707 shares during the period. Finally, BlackRock Fund Advisors increased 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 during the period. 95.49% of the stock is currently owned by institutional investors.
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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