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Mattel (NYSE:MAT) was downgraded by equities researchers at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.

Shares of Mattel (NYSE:MAT) traded down 8.81% during mid-day trading on Friday, hitting $39.222. 10,649,673 shares of the company’s stock traded hands. Mattel has a one year low of $36.75 and a one year high of $48.48. The stock has a 50-day moving average of $45.03 and a 200-day moving average of $43.6. The company has a market cap of $13.274 billion and a P/E ratio of 18.00.

Mattel (NYSE:MAT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.21 by $0.14. The company had revenue of $2.11 million for the quarter, compared to the consensus estimate of $2.38 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Mattel will post $2.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, March 7th. Stockholders of record on Thursday, February 20th will be paid a dividend of 0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.53%.

A number of other firms have also recently commented on MAT. Analysts at McLean Capital Management downgraded shares of Mattel from a “buy” rating to a “neutral” rating in a research note to investors on Friday, January 24th. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Mattel from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, January 7th. They now have a $40.00 price target on the stock, down previously from $46.62. Finally, analysts at Ned Davis Research upgraded shares of Mattel from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Mattel currently has a consensus rating of “Hold” and a consensus target price of $47.30.

Mattel, Inc (NYSE:MAT) designs, manufactures and markets a variety of toy products worldwide which are sold to its customers and directly to consumers.

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