Mattel, Inc. (NASDAQ:MAT) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.
Other research analysts have also issued research reports about the company. UBS AG restated a “buy” rating and issued a $29.00 price objective on shares of Mattel in a report on Friday, May 19th. BMO Capital Markets restated a “buy” rating on shares of Mattel in a report on Wednesday, June 7th. B. Riley restated a “buy” rating and issued a $30.50 price objective on shares of Mattel in a report on Wednesday, April 26th. DA Davidson lowered Mattel from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $30.00 to $24.00 in a report on Thursday, June 15th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $19.00 price objective on shares of Mattel in a report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $26.53.
Shares of Mattel (NASDAQ:MAT) opened at 17.51 on Friday. The company’s 50-day moving average is $20.30 and its 200-day moving average is $23.21. The stock has a market cap of $6.00 billion, a P/E ratio of 25.12 and a beta of 0.84. Mattel has a 1-year low of $17.46 and a 1-year high of $34.20.
Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $974.50 million during the quarter, compared to analysts’ expectations of $972.36 million. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) EPS. Equities analysts expect that Mattel will post $0.80 EPS for the current fiscal year.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis acquired 12,660 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $19.61 per share, with a total value of $248,262.60. Following the transaction, the chief executive officer now owns 116,788 shares of the company’s stock, valued at $2,290,212.68. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.88% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of MAT. BlackRock Inc. increased its stake in shares of Mattel by 3,220.3% in the first quarter. BlackRock Inc. now owns 35,888,132 shares of the company’s stock worth $919,097,000 after buying an additional 34,807,257 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mattel by 2.0% in the second quarter. Vanguard Group Inc. now owns 34,329,879 shares of the company’s stock worth $739,123,000 after buying an additional 662,676 shares during the last quarter. State Street Corp increased its stake in shares of Mattel by 0.8% in the first quarter. State Street Corp now owns 14,773,530 shares of the company’s stock worth $378,355,000 after buying an additional 117,584 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mattel by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 11,221,858 shares of the company’s stock worth $287,391,000 after buying an additional 280,930 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Mattel by 91.6% in the second quarter. American Century Companies Inc. now owns 9,958,114 shares of the company’s stock worth $214,398,000 after buying an additional 4,759,608 shares during the last quarter. 91.79% of the stock is owned by hedge funds and other institutional investors.
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.
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