Mattel Inc. (MAT) Given Buy Rating at Jefferies Group
Mattel Inc. (NASDAQ:MAT)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Thursday. They presently have a $36.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 20.08% from the company’s current price.
Several other research analysts have also commented on the stock. Citigroup Inc. lifted their price objective on shares of Mattel from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Mattel in a research note on Tuesday, October 4th. MKM Partners raised shares of Mattel from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Monday. Vetr raised shares of Mattel from a “sell” rating to a “buy” rating and set a $36.30 price objective for the company in a research note on Monday, August 15th. Finally, Zacks Investment Research raised shares of Mattel from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Mattel presently has a consensus 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 were exchanged. The company has a 50-day moving average of $31.63 and a 200 day moving average of $32.10. Mattel has a 52 week low of $22.63 and a 52 week high of $34.76. The firm has a market capitalization of $10.21 billion, a PE ratio of 29.68 and a beta of 0.99.
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Mattel (NASDAQ:MAT) last posted its earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The firm earned $957.30 million during the quarter, compared to analyst estimates of $937.85 million. During the same period last year, the firm posted $0.01 earnings per share. Mattel’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts predict that Mattel will post $1.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 23rd were issued 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 presently 149.02%.
In other Mattel news, EVP Geoffrey H. Walker sold 7,128 shares of the business’s stock in a transaction dated 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 directly owns 39,348 shares in the company, valued at $1,320,912.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Mattel by 28.5% in the second quarter. Alps Advisors Inc. now owns 851,254 shares of the company’s stock worth $26,636,000 after buying an additional 188,960 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Mattel during the first quarter worth $51,966,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Mattel by 3.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 510,142 shares of the company’s stock worth $17,151,000 after buying an additional 16,000 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Mattel by 9.9% in the second quarter. Shell Asset Management Co. now owns 340,767 shares of the company’s stock worth $10,663,000 after buying an additional 30,576 shares during the last quarter. Finally, HL Financial Services LLC raised its stake in shares of Mattel by 2.8% in the second quarter. HL Financial Services LLC now owns 1,795,493 shares of the company’s stock worth $56,181,000 after buying an additional 49,644 shares during the last quarter. 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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