Mattel (NASDAQ:MAT) Shares Up 4.9% Following Earnings Beat

Mattel, Inc. (NASDAQ:MAT) shares rose 4.9% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $20.07 and last traded at $19.64. Approximately 1,659,778 shares changed hands during trading, a decline of 44% from the average daily volume of 2,954,972 shares. The stock had previously closed at $18.73.

The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $809.50 million for the quarter, compared to analysts’ expectations of $833.52 million. Mattel had a net margin of 5.38% and a return on equity of 24.25%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.24) EPS.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Roth Capital cut shares of Mattel from a “buy” rating to a “neutral” rating in a research note on Thursday, January 4th. DA Davidson increased their price objective on shares of Mattel from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. TheStreet cut shares of Mattel from a “b-” rating to a “c+” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. cut shares of Mattel from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $19.00 in a research note on Monday, February 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Mattel from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Mattel presently has a consensus rating of “Moderate Buy” and an average price target of $22.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its holdings in shares of Mattel by 833.3% during the 3rd quarter. Trust Co. of Vermont now owns 1,120 shares of the company’s stock worth $25,000 after acquiring an additional 1,000 shares during the period. Clearstead Advisors LLC purchased a new position in shares of Mattel during the 3rd quarter worth about $52,000. Y.D. More Investments Ltd purchased a new position in shares of Mattel during the 3rd quarter worth about $53,000. Partnership Wealth Management LLC purchased a new position in shares of Mattel during the 4th quarter worth about $61,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Mattel by 23.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,908 shares of the company’s stock worth $64,000 after acquiring an additional 550 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Mattel Stock Performance

The firm has a market capitalization of $6.35 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.90 and a current ratio of 2.33. The company’s fifty day moving average price is $19.30 and its two-hundred day moving average price is $19.08.

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.