Mattel, Inc. (MAT) Expected to Announce Quarterly Sales of $1.04 Billion
Equities research analysts expect Mattel, Inc. (NASDAQ:MAT) to post $1.04 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Mattel’s earnings. The highest sales estimate is $1.05 billion and the lowest is $1.03 billion. Mattel reported sales of $957.3 million in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The company is scheduled to announce its next earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that Mattel will report full year sales of $1.04 billion for the current financial year, with estimates ranging from $5.69 billion to $5.75 billion. For the next fiscal year, analysts expect that the business will report sales of $5.96 billion per share, with estimates ranging from $5.91 billion to $6.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Mattel.
Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, April 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.15. The firm had revenue of $735.60 million during the quarter, compared to analysts’ expectations of $797.60 million. Mattel had a net margin of 5.83% and a return on equity of 15.52%. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS.
Several analysts have weighed in on the company. Vetr raised Mattel from a “hold” rating to a “strong-buy” rating and set a $30.97 target price on the stock in a report on Monday, January 30th. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price on shares of Mattel in a report on Saturday, January 28th. B. Riley reissued a “buy” rating and issued a $35.00 target price on shares of Mattel in a report on Tuesday, January 31st. Goldman Sachs Group Inc assumed coverage on Mattel in a report on Monday, February 13th. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Zacks Investment Research raised Mattel from a “sell” rating to a “hold” rating in a report on Friday, April 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Mattel presently has a consensus rating of “Buy” and an average target price of $30.82.
In related news, Director Dean A. Scarborough acquired 47,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were acquired at an average price of $21.95 per share, with a total value of $1,031,650.00. Following the completion of the purchase, the director now directly owns 77,573 shares in the company, valued at $1,702,727.35. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.88% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Mattel by 3,220.3% in the first quarter. BlackRock Inc. now owns 35,888,132 shares of the company’s stock worth $919,097,000 after buying an additional 34,807,257 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Mattel during the fourth quarter worth approximately $90,008,000. American Century Companies Inc. raised its stake in Mattel by 100.0% in the first quarter. American Century Companies Inc. now owns 5,198,506 shares of the company’s stock worth $133,134,000 after buying an additional 2,599,325 shares during the last quarter. Norges Bank bought a new stake in Mattel during the fourth quarter worth approximately $65,976,000. Finally, Credit Suisse AG raised its stake in Mattel by 165.6% in the first quarter. Credit Suisse AG now owns 3,131,042 shares of the company’s stock worth $80,186,000 after buying an additional 1,951,994 shares during the last quarter. 95.98% of the stock is currently owned by institutional investors and hedge funds.
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Mattel (NASDAQ:MAT) opened at 22.53 on Friday. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 28.27 and a beta of 0.90. The firm has a 50-day moving average price of $22.99 and a 200-day moving average price of $26.65. Mattel has a one year low of $21.55 and a one year high of $34.24.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 19th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date is Wednesday, May 17th. Mattel’s payout ratio is currently 167.03%.
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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