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. Mattel also updated its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Stock Down 0.7 %

MAT stock traded down $0.13 during midday trading on Friday, hitting $18.34. The stock had a trading volume of 654,925 shares, compared to its average volume of 3,003,384. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.95. The business has a 50-day moving average of $19.30 and a two-hundred day moving average of $19.08. Mattel has a 52-week low of $16.20 and a 52-week high of $22.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.49 and a quick ratio of 1.90.

Mattel (NASDAQ:MAT) last released its earnings results on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The firm had revenue of $809.50 million for the quarter, compared to analysts’ expectations of $833.52 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Mattel will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Mattel from an overweight rating to a neutral rating and lowered their target price for the company from $24.00 to $19.00 in a report on Monday, February 5th. Stifel Nicolaus decreased their price objective on Mattel from $26.00 to $23.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. Roth Capital downgraded Mattel from a buy rating to a neutral rating in a research note on Thursday, January 4th. Morgan Stanley restated an equal weight rating and set a $19.00 price target (down previously from $25.00) on shares of Mattel in a report on Wednesday, January 17th. Finally, Citigroup raised their price target on Mattel from $25.00 to $26.00 and gave the company a buy rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $22.78.

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.