Mattel Inc (MAT) Expected to Announce Quarterly Sales of $822.13 Million

Brokerages expect that Mattel Inc (NASDAQ:MAT) will announce sales of $822.13 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Mattel’s earnings. The lowest sales estimate is $807.60 million and the highest is $839.35 million. Mattel posted sales of $840.70 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.2%. The business is scheduled to report its next earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Mattel will report full-year sales of $4.43 billion for the current financial year, with estimates ranging from $4.31 billion to $4.52 billion. For the next financial year, analysts anticipate that the company will post sales of $4.50 billion, with estimates ranging from $4.35 billion to $4.65 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Mattel.

Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, April 25th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.12. Mattel had a negative net margin of 8.98% and a negative return on equity of 42.68%. The business had revenue of $689.20 million during the quarter, compared to the consensus estimate of $652.36 million. During the same quarter in the prior year, the firm earned ($0.60) earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year.



A number of brokerages recently commented on MAT. Cfra downgraded shares of Mattel to a “sell” rating and set a $13.00 price objective for the company. in a research report on Friday, February 8th. MKM Partners boosted their target price on shares of Mattel to $15.00 and gave the company a “neutral” rating in a research report on Monday, February 11th. BidaskClub raised shares of Mattel from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Zacks Investment Research raised shares of Mattel from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Wednesday, February 13th. Finally, ValuEngine raised shares of Mattel from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Mattel currently has a consensus rating of “Hold” and a consensus target price of $14.31.

Shares of MAT traded up $0.04 during mid-day trading on Friday, hitting $10.97. 8,317,813 shares of the company’s stock were exchanged, compared to its average volume of 6,244,026. Mattel has a fifty-two week low of $9.09 and a fifty-two week high of $17.98. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -9.69 and a beta of 1.41. The company has a debt-to-equity ratio of 5.50, a quick ratio of 1.27 and a current ratio of 1.88.

In other Mattel news, CFO Joseph J. Euteneuer purchased 20,000 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were purchased at an average cost of $13.95 per share, for a total transaction of $279,000.00. Following the acquisition, the chief financial officer now owns 55,231 shares of the company’s stock, valued at $770,472.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Dolan purchased 30,000 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were acquired at an average price of $13.96 per share, for a total transaction of $418,800.00. Following the completion of the acquisition, the director now directly owns 130,920 shares in the company, valued at approximately $1,827,643.20. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of MAT. Vanguard Group Inc raised its position in Mattel by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 36,050,367 shares of the company’s stock valued at $565,991,000 after buying an additional 568,489 shares during the last quarter. BlackRock Inc. raised its position in Mattel by 1.5% in the 4th quarter. BlackRock Inc. now owns 30,506,609 shares of the company’s stock valued at $304,761,000 after buying an additional 460,247 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in Mattel by 56.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 26,378,153 shares of the company’s stock valued at $342,916,000 after buying an additional 9,494,557 shares during the last quarter. FMR LLC raised its position in Mattel by 22.2% in the 1st quarter. FMR LLC now owns 7,832,807 shares of the company’s stock valued at $101,826,000 after buying an additional 1,421,076 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Mattel by 6.1% in the 1st quarter. Geode Capital Management LLC now owns 5,180,059 shares of the company’s stock valued at $67,233,000 after buying an additional 299,658 shares during the last quarter.

About Mattel

Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, content, gaming, and lifestyle products for children under the Barbie brand; diecast cars, tracks, playsets, and play products for kids, adults, and collectors under the Hot Wheels brand name; content, toy, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends brands; and dolls and books under the American Girl brand name.

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