Mattel (NASDAQ:MAT) Issues FY 2024 Earnings Guidance

Mattel (NASDAQ:MAT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.350-1.450 for the period, compared to the consensus EPS estimate of 1.440. The company issued revenue guidance of -. Mattel also updated its FY24 guidance to $1.35-1.45 EPS.

Mattel Stock Down 1.8 %

Shares of NASDAQ MAT traded down $0.33 during mid-day trading on Wednesday, reaching $17.78. The company had a trading volume of 4,062,558 shares, compared to its average volume of 3,137,941. The stock has a fifty day moving average of $19.02 and a two-hundred day moving average of $18.29. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.25 and a beta of 0.79. Mattel has a 12-month low of $15.87 and a 12-month high of $20.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.81 and a current ratio of 2.58.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.10 earnings per share. Mattel’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts expect that Mattel will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

MAT has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com upgraded shares of Mattel from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. DA Davidson restated a “buy” rating and set a $27.00 target price on shares of Mattel in a report on Monday, July 22nd. Finally, Jefferies Financial Group upped their price target on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.13.

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.