Mattel Rating Lowered to Neutral at Longbow Research (MAT)
Mattel (NYSE:MAT) was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. They currently have a $48.00 price target on the stock. Longbow Research’s target price suggests a potential upside of 26.85% from the company’s current price.
A number of other analysts have also recently weighed in on MAT. Analysts at SunTrust downgraded shares of Mattel from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $40.00 price target on the stock, down previously from $50.00. Separately, analysts at B. Riley downgraded shares of Mattel from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $41.00 price target on the stock, down previously from $55.00. Finally, analysts at Needham & Company cut their price target on shares of Mattel from $50.00 to $45.00 in a research note to investors on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.64.
Mattel (NYSE:MAT) traded down 3.87% during mid-day trading on Monday, hitting $36.3765. The stock had a trading volume of 8,063,920 shares. Mattel has a 1-year low of $37.19 and a 1-year high of $48.48. The stock’s 50-day moving average is $44.81 and its 200-day moving average is $43.57. The company has a market cap of $12.346 billion and a P/E ratio of 14.67.
Mattel (NYSE:MAT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the 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 billion. 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 $2.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 7th. Investors of record on Thursday, February 20th will be given a dividend of 0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.02%.
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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