Mattel (NASDAQ:MAT) Updates FY24 Earnings Guidance

Mattel (NASDAQ:MAT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.35-1.45 for the period, compared to the consensus EPS estimate of $1.44. Mattel also updated its FY 2024 guidance to 1.350-1.450 EPS.

Mattel Trading Up 4.6 %

Shares of Mattel stock traded up $0.81 during mid-day trading on Thursday, hitting $18.59. The stock had a trading volume of 3,366,931 shares, compared to its average volume of 3,139,075. The firm has a market cap of $6.40 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79. The company has a quick ratio of 1.81, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average of $18.99 and a two-hundred day moving average of $18.28. Mattel has a 12-month low of $15.87 and a 12-month high of $20.48.

Mattel (NASDAQ:MAT) last posted its earnings results 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that Mattel will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAT shares. JPMorgan Chase & Co. upped their target price on shares of Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley lifted their target price on shares of Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group raised their price target on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, October 1st. Bank of America increased their target price on Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $27.00 target price on shares of Mattel in a research report on Thursday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mattel has an average rating of “Moderate Buy” and an average target price of $23.75.

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.