Mattel Inc. (MAT) Issues Quarterly Earnings Results
Mattel Inc. (NASDAQ:MAT) issued its quarterly earnings data on Wednesday. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Mattel had a return on equity of 16.23% and a net margin of 6.17%. The company earned $1.80 billion during the quarter, compared to the consensus estimate of $940.30 million. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.
Mattel (NASDAQ:MAT) traded down 0.29% during midday trading on Wednesday, reaching $30.62. 6,027,461 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 30.32 and a beta of 0.99. Mattel has a 52 week low of $22.63 and a 52 week high of $34.76. The firm’s 50 day moving average is $31.35 and its 200 day moving average is $32.02.
In other Mattel news, EVP Geoffrey H. Walker sold 7,128 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total value of $239,286.96. Following the completion of the transaction, the executive vice president now directly owns 39,348 shares in the company, valued at $1,320,912.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. National Asset Management Inc. bought a new position in Mattel during the second quarter valued at about $206,000. Bank of Nova Scotia increased its position in Mattel by 6.5% in the second quarter. Bank of Nova Scotia now owns 6,756 shares of the company’s stock valued at $211,000 after buying an additional 410 shares during the period. Ontario Teachers Pension Plan Board bought a new position in Mattel during the second quarter valued at about $260,000. Pacer Advisors Inc. increased its position in Mattel by 0.7% in the second quarter. Pacer Advisors Inc. now owns 10,374 shares of the company’s stock valued at $325,000 after buying an additional 70 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Mattel by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 10,460 shares of the company’s stock valued at $327,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 95.50% of the company’s stock.
MAT has been the subject of several research reports. Zacks Investment Research upgraded shares of Mattel from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, June 21st. MKM Partners reiterated a “hold” rating and issued a $33.00 price target on shares of Mattel in a research note on Tuesday, July 12th. B. Riley reiterated a “buy” rating and issued a $38.00 price target on shares of Mattel in a research note on Thursday, July 21st. Jefferies Group set a $36.00 price target on shares of Mattel and gave the stock a “buy” rating in a research note on Thursday, July 21st. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Mattel in a research note on Friday, July 22nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target 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.
Receive News & Stock Ratings for Mattel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mattel Inc. and related stocks with our FREE daily email newsletter.