Jefferies Group Reiterates Buy Rating for Mattel Inc. (MAT)
Mattel Inc. (NASDAQ:MAT)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a note issued to investors on Thursday. They presently have a $36.00 target price on the stock. Jefferies Group’s target price would indicate a potential upside of 20.08% from the company’s current price.
Several other equities research analysts have also recently issued reports on MAT. Vetr upgraded shares of Mattel from a “sell” rating to a “buy” rating and set a $36.30 price objective for the company in a research report on Monday, August 15th. Zacks Investment Research upgraded shares of Mattel from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, June 21st. MKM Partners restated a “hold” rating and set a $33.00 price objective on shares of Mattel in a research report on Tuesday, July 12th. Piper Jaffray Cos. restated a “neutral” rating and set a $30.00 price objective (up from $28.00) on shares of Mattel in a research report on Friday, July 22nd. Finally, Monness Crespi & Hardt upgraded shares of Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, September 19th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $35.48.
Mattel (NASDAQ:MAT) traded up 1.28% during midday trading on Thursday, reaching $29.98. 3,191,595 shares of the company’s stock traded hands. Mattel has a 1-year low of $22.63 and a 1-year high of $34.76. The firm’s 50-day moving average is $31.63 and its 200-day moving average is $32.10. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 29.68 and a beta of 0.99.
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Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 20th. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. The business earned $957.30 million during the quarter, compared to analysts’ expectations of $937.85 million. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. Analysts forecast that Mattel will post $1.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 23rd were paid a $0.38 dividend. The ex-dividend date was Friday, August 19th. This represents a $1.52 dividend on an annualized basis and a yield of 5.07%. Mattel’s dividend payout ratio is currently 149.02%.
In related news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total value of $239,286.96. Following the completion of the transaction, the executive vice president now owns 39,348 shares in the company, valued at $1,320,912.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its stake in Mattel by 0.8% in the first quarter. Prudential Financial Inc. now owns 423,128 shares of the company’s stock worth $14,226,000 after buying an additional 3,270 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Mattel by 4.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,188,203 shares of the company’s stock worth $308,907,000 after buying an additional 379,402 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Mattel by 11.4% in the first quarter. Sentry Investment Management LLC now owns 25,547 shares of the company’s stock worth $859,000 after buying an additional 2,613 shares during the last quarter. Associated Banc Corp boosted its stake in Mattel by 4.5% in the first quarter. Associated Banc Corp now owns 61,427 shares of the company’s stock worth $2,065,000 after buying an additional 2,623 shares during the last quarter. Finally, Credit Agricole S A boosted its stake in Mattel by 1.9% in the first quarter. Credit Agricole S A now owns 76,808 shares of the company’s stock worth $2,583,000 after buying an additional 1,423 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.
Mattel Company Profile
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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