Mattel, Inc. (NASDAQ:MAT) Expected to Post Quarterly Sales of $1.69 Billion

Wall Street analysts forecast that Mattel, Inc. (NASDAQ:MAT) will announce sales of $1.69 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Mattel’s earnings. The lowest sales estimate is $1.66 billion and the highest is $1.76 billion. Mattel reported sales of $1.63 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 28th.

According to Zacks, analysts expect that Mattel will report full-year sales of $5.24 billion for the current fiscal year, with estimates ranging from $5.20 billion to $5.33 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.49 billion, with estimates ranging from $5.45 billion to $5.56 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Mattel.

Mattel (NASDAQ:MAT) last released its quarterly earnings results on Tuesday, July 27th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. Mattel had a net margin of 6.32% and a return on equity of 89.86%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $885.39 million. During the same period last year, the firm earned ($0.26) earnings per share. The firm’s revenue was up 40.2% on a year-over-year basis.

MAT has been the topic of several research reports. KeyCorp lifted their price objective on shares of Mattel from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. TheStreet lowered shares of Mattel from a “b-” rating to a “c+” rating in a research report on Friday. DA Davidson lifted their price objective on shares of Mattel from $28.50 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research downgraded shares of Mattel from a “buy” rating to a “hold” rating and set a $21.00 target price for the company. in a research note on Monday, June 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Mattel from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Mattel presently has a consensus rating of “Buy” and a consensus target price of $23.10.

Large investors have recently modified their holdings of the stock. Arizona State Retirement System grew its stake in Mattel by 0.7% in the 1st quarter. Arizona State Retirement System now owns 101,315 shares of the company’s stock worth $2,018,000 after buying an additional 714 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Mattel by 5.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,220 shares of the company’s stock worth $305,000 after acquiring an additional 724 shares during the last quarter. Estate Counselors LLC lifted its holdings in shares of Mattel by 2.0% in the 2nd quarter. Estate Counselors LLC now owns 52,850 shares of the company’s stock worth $1,062,000 after acquiring an additional 1,050 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Mattel in the 2nd quarter worth approximately $76,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Mattel by 101.1% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 3,016 shares of the company’s stock valued at $61,000 after buying an additional 1,516 shares during the last quarter. 97.80% of the stock is owned by institutional investors.

MAT stock traded down $0.19 during mid-day trading on Thursday, hitting $20.31. The company had a trading volume of 3,096,543 shares, compared to its average volume of 2,491,075. The firm has a market cap of $7.09 billion, a PE ratio of 21.84 and a beta of 1.51. The company has a debt-to-equity ratio of 5.38, a quick ratio of 1.21 and a current ratio of 1.94. Mattel has a 12 month low of $10.71 and a 12 month high of $23.31. The stock’s fifty day moving average price is $20.98 and its two-hundred day moving average price is $20.74.

About Mattel

Mattel, Inc is a global children’s entertainment company that specializes in the design and production of toys and consumer products. The company engages consumers through its portfolio of iconic franchises, including Barbie, Hot Wheels, American Girl, Fisher-Price, Thomas & Friends, UNO and MEGA. It operates through the following segments: North America, International and American Girl.

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Earnings History and Estimates for Mattel (NASDAQ:MAT)

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