Mattel Rating Reiterated by Zacks (MAT)
Mattel (NYSE:MAT)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Monday, AR Network reports. They currently have a $39.00 price objective on the stock. Zacks‘s price target points to a potential upside of 4.08% from the stock’s previous close.
Zacks’ analyst wrote, “Mattel reported dismal first-quarter results with a loss of $0.03, which compared unfavorably with both the Zacks Consensus Estimate as well as the year-over-year figure due to weak sales. The top line missed the consensus mark by 5.0% and declined year over year, reflecting poor performance in the domestic and international market. Sales of brands including Barbie and Fisher-Price dropped during the quarter. Mattel’s weak results reflect that consumer spending uncertainty still lingers amid sluggish economic growth in the U.S. as customers curb their non-essential purchases. However, we remain positive about the company’s acquisition of the Canadian toymaker Mega Brands in March, which will help boost sales. We maintain our Neutral recommendation on the stock.”
A number of other firms have also recently commented on MAT. Analysts at Needham & Company LLC reiterated a “buy” rating on shares of Mattel in a research note on Monday. They now have a $41.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Mattel in a research note on Monday. They now have a $39.00 price target on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Mattel from a “market perform” rating to an “underperform” rating in a research note on Monday, April 7th. They now have a $33.00 price target on the stock, down previously from $40.00. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.00.
Mattel (NYSE:MAT) traded up 0.96% during mid-day trading on Monday, hitting $37.83. The stock had a trading volume of 2,382,497 shares. Mattel has a 52-week low of $34.98 and a 52-week high of $48.48. The stock has a 50-day moving average of $38.37 and a 200-day moving average of $41.8. The company has a market cap of $12.870 billion and a price-to-earnings ratio of 15.28.
Mattel (NYSE:MAT) last posted its quarterly earnings results on Thursday, April 17th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.09 by $0.12. The company had revenue of $946.20 million for the quarter, compared to the consensus estimate of $953.92 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. Analysts expect that Mattel will post $2.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.06%.
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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