Mattel, Inc. (MAT) Given “Underperform” Rating at DA Davidson

DA Davidson restated their underperform rating on shares of Mattel, Inc. (NASDAQ:MAT) in a research note issued to investors on Tuesday. The brokerage currently has a $14.00 target price on the stock, down from their previous target price of $18.00.

A number of other research analysts have also recently commented on the company. BMO Capital Markets restated an outperform rating and set a $25.00 price objective (down previously from $30.00) on shares of Mattel in a research note on Friday, July 28th. UBS AG set a $26.00 price objective on Mattel and gave the stock a buy rating in a research note on Friday, July 28th. BidaskClub upgraded Mattel from a sell rating to a hold rating in a research note on Wednesday, July 5th. Jefferies Group LLC restated a hold rating and set a $17.00 price objective (down previously from $19.00) on shares of Mattel in a research note on Friday, July 28th. Finally, MKM Partners reduced their price objective on Mattel from $24.00 to $22.00 and set a buy rating on the stock in a research note on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $25.27.

Mattel (NASDAQ:MAT) opened at 15.775 on Tuesday. Mattel has a 1-year low of $15.17 and a 1-year high of $33.23. The company’s 50-day moving average price is $17.69 and its 200 day moving average price is $21.71. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 22.633 and a beta of 0.87.

Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). Mattel had a net margin of 4.51% and a return on equity of 11.62%. The firm had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $972.36 million. During the same period last year, the firm posted ($0.02) EPS. Mattel’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Mattel will post $0.79 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, August 21st. Mattel’s dividend payout ratio (DPR) is 86.96%.

In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the purchase, the chief executive officer now owns 116,788 shares in the company, valued at approximately $2,290,212.68. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Highlander Capital Management LLC bought a new stake in Mattel in the second quarter valued at about $105,000. Penserra Capital Management LLC increased its holdings in Mattel by 26.6% in the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock valued at $131,000 after buying an additional 1,287 shares during the last quarter. Delta Asset Management LLC TN increased its holdings in Mattel by 54.7% in the second quarter. Delta Asset Management LLC TN now owns 6,150 shares of the company’s stock valued at $133,000 after buying an additional 2,175 shares during the last quarter. First Interstate Bank increased its holdings in Mattel by 237.1% in the first quarter. First Interstate Bank now owns 6,682 shares of the company’s stock valued at $171,000 after buying an additional 4,700 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in Mattel in the second quarter valued at about $195,000. 93.54% of the stock is owned by hedge funds and other institutional investors.

Mattel Company Profile

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.

Analyst Recommendations for Mattel (NASDAQ:MAT)

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