MKM Partners Upgrades Mattel Inc. (MAT) to Buy
Mattel Inc. (NASDAQ:MAT) was upgraded by research analysts at MKM Partners from a “neutral” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $36.00 price target on the stock. MKM Partners’ target price would indicate a potential upside of 19.76% from the company’s previous close.
A number of other brokerages also recently issued reports on MAT. Vetr upgraded shares of Mattel from a “buy” rating to a “strong-buy” rating and set a $41.14 price target for the company in a research note on Monday, August 29th. Zacks Investment Research upgraded shares of Mattel from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, September 21st. Monness Crespi & Hardt upgraded shares of Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, September 19th. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price target on shares of Mattel in a research note on Tuesday, October 4th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $30.00 price target (up previously from $28.00) on shares of Mattel in a research note on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.48.
Mattel (NASDAQ:MAT) traded up 1.16% during mid-day trading on Monday, hitting $30.41. 234,707 shares of the stock were exchanged. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 30.11 and a beta of 0.99. Mattel has a 52-week low of $22.00 and a 52-week high of $34.76. The company has a 50 day moving average price of $32.03 and a 200 day moving average price of $32.17.
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Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Wednesday, July 20th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The business earned $957.30 million during the quarter, compared to analyst estimates of $937.85 million. During the same quarter last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Mattel will post $1.34 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.52 annualized dividend and a dividend yield of 5.06%. Mattel’s payout ratio is currently 149.02%.
In other Mattel news, EVP Geoffrey H. Walker sold 7,128 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total transaction of $239,286.96. Following the sale, the executive vice president now directly owns 39,348 shares in the company, valued at approximately $1,320,912.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MAT. FMR LLC raised its stake in Mattel by 23.9% in the second quarter. FMR LLC now owns 17,320,223 shares of the company’s stock valued at $541,949,000 after buying an additional 3,344,171 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Mattel during the first quarter worth about $51,966,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Mattel by 2,326.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,600,656 shares of the company’s stock worth $50,085,000 after buying an additional 1,534,681 shares during the period. Vanguard Group Inc. raised its position in Mattel by 3.5% in the second quarter. Vanguard Group Inc. now owns 30,549,988 shares of the company’s stock worth $955,908,000 after buying an additional 1,019,897 shares during the period. Finally, Analytic Investors LLC purchased a new position in Mattel during the second quarter worth about $31,717,000. Institutional investors and hedge funds own 95.49% of the company’s stock.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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