Mattel (NASDAQ:MAT) Updates FY 2022 Earnings Guidance

Mattel (NASDAQ:MATGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.42-$1.48 for the period, compared to the consensus earnings per share estimate of $1.48. The company issued revenue guidance of $5.89 billion-$6.00 billion, compared to the consensus revenue estimate of $5.91 billion.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Mattel from a hold rating to a buy rating in a research report on Tuesday, July 12th. The Goldman Sachs Group upgraded shares of Mattel from a neutral rating to a buy rating and raised their price objective for the company from $30.00 to $31.00 in a research report on Sunday, July 10th. MKM Partners cut their price objective on shares of Mattel from $34.00 to $30.00 and set a buy rating for the company in a research report on Thursday, July 7th. Finally, Jefferies Financial Group dropped their target price on shares of Mattel from $27.00 to $24.00 in a research report on Friday, July 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Mattel has an average rating of Buy and an average price target of $32.57.

Mattel Stock Performance

MAT traded down $0.32 during midday trading on Friday, hitting $22.49. 2,449,332 shares of the company traded hands, compared to its average volume of 3,518,945. The company has a quick ratio of 1.03, a current ratio of 1.82 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $7.93 billion, a PE ratio of 7.12 and a beta of 1.23. The company’s 50-day moving average is $22.94 and its 200 day moving average is $23.21. Mattel has a 52 week low of $17.94 and a 52 week high of $26.99.

Mattel (NASDAQ:MATGet Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.06 by $0.12. Mattel had a net margin of 19.31% and a return on equity of 37.28%. During the same quarter last year, the company posted $0.03 earnings per share. On average, research analysts expect that Mattel will post 1.47 EPS for the current year.

Institutional Trading of Mattel

A number of institutional investors have recently bought and sold shares of MAT. Neuberger Berman Group LLC lifted its position in shares of Mattel by 82.0% during the first quarter. Neuberger Berman Group LLC now owns 28,044 shares of the company’s stock worth $623,000 after purchasing an additional 12,632 shares during the last quarter. Capital International Investors lifted its position in shares of Mattel by 6.3% during the first quarter. Capital International Investors now owns 11,648,917 shares of the company’s stock worth $258,722,000 after purchasing an additional 693,226 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Mattel during the first quarter valued at $321,000. Quantbot Technologies LP increased its stake in shares of Mattel by 5.7% during the first quarter. Quantbot Technologies LP now owns 37,404 shares of the company’s stock valued at $830,000 after buying an additional 2,001 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Mattel by 4.4% during the first quarter. Royal Bank of Canada now owns 257,742 shares of the company’s stock valued at $5,726,000 after buying an additional 10,799 shares during the period. 97.94% of the stock is currently owned by institutional investors.

About Mattel

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Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as content, gaming, and lifestyle products for children under the Barbie, Monster High, American Girl, Polly Pocket, Spirit, and Enchantimals brands; dolls and books under the American Girl brand name; die-cast vehicles, tracks, playsets, and accessories for kids of all ages, and collectors under the Hot Wheels, Monster Trucks, Matchbox, CARS, and Mario Kart brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends, Power wheels, and Fireman Sam brands.

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Earnings History and Estimates for Mattel (NASDAQ:MAT)

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