Mattel (NASDAQ:MAT) Updates FY24 Earnings Guidance

Mattel (NASDAQ:MAT) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Analyst Ratings Changes

MAT has been the subject of several recent research reports. JPMorgan Chase & Co. cut shares of Mattel from an overweight rating to a neutral rating and dropped their target price for the company from $24.00 to $19.00 in a research report on Monday, February 5th. StockNews.com upgraded Mattel from a hold rating to a buy rating in a report on Monday, February 26th. Roth Capital lowered Mattel from a buy rating to a neutral rating in a research report on Thursday, January 4th. Citigroup raised their target price on shares of Mattel from $25.00 to $26.00 and gave the stock a buy rating in a report on Wednesday. Finally, DA Davidson raised their price objective on shares of Mattel from $26.00 to $27.00 and gave the stock a buy rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $22.78.

Mattel Stock Up 3.6 %

Shares of Mattel stock traded up $0.67 during trading hours on Wednesday, reaching $19.40. 4,345,970 shares of the company’s stock were exchanged, compared to its average volume of 2,992,732. The stock has a market cap of $6.67 billion, a P/E ratio of 31.82, a P/E/G ratio of 1.24 and a beta of 0.95. The company has a 50 day moving average of $19.30 and a two-hundred day moving average of $19.08. The company has a current ratio of 2.33, a quick ratio of 1.90 and a debt-to-equity ratio of 1.08. Mattel has a fifty-two week low of $16.20 and a fifty-two week high of $22.64.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $809.50 million during the quarter, compared to analysts’ expectations of $833.52 million. Mattel had a return on equity of 21.25% and a net margin of 3.94%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) earnings per share. On average, sell-side analysts forecast that Mattel will post 1.37 EPS for the current fiscal year.

About Mattel

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.