Analysts Expect Mattel, Inc. (MAT) Will Announce Quarterly Sales of $1.00 Billion
Wall Street analysts expect that Mattel, Inc. (NASDAQ:MAT) will post $1.00 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Mattel’s earnings, with estimates ranging from $978.00 million to $1.05 billion. Mattel reported sales of $957.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The business is scheduled to issue its next earnings results on Wednesday, July 19th.
On average, analysts expect that Mattel will report full-year sales of $1.00 billion for the current year, with estimates ranging from $5.53 billion to $5.73 billion. For the next financial year, analysts expect that the business will post sales of $5.80 billion per share, with estimates ranging from $5.51 billion to $5.98 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Mattel.
Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, April 20th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.15. Mattel had a return on equity of 13.19% and a net margin of 5.22%. The company had revenue of $735.60 million during the quarter, compared to the consensus estimate of $797.60 million. During the same period in the prior year, the firm posted ($0.14) earnings per share. The company’s revenue was down 15.4% on a year-over-year basis.
A number of research analysts have recently commented on MAT shares. B. Riley reissued a “buy” rating and issued a $35.00 target price on shares of Mattel in a report on Sunday, February 26th. BMO Capital Markets reiterated a “buy” rating on shares of Mattel in a report on Wednesday, June 7th. DA Davidson reiterated a “buy” rating and issued a $30.00 price objective on shares of Mattel in a report on Tuesday, May 23rd. Monness Crespi & Hardt dropped their price objective on shares of Mattel from $34.00 to $29.00 and set a “buy” rating for the company in a report on Friday, April 21st. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $25.00 price objective (down previously from $30.00) on shares of Mattel in a report on Sunday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.32.
In other news, Director Dean A. Scarborough purchased 47,000 shares of the stock in a transaction on Monday, April 24th. The stock was purchased at an average price of $21.95 per share, for a total transaction of $1,031,650.00. Following the acquisition, the director now owns 77,573 shares in the company, valued at $1,702,727.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Delta Asset Management LLC TN purchased a new position in Mattel during the first quarter valued at about $102,000. Bollard Group LLC raised its position in Mattel by 1.5% in the first quarter. Bollard Group LLC now owns 4,200 shares of the company’s stock valued at $108,000 after buying an additional 62 shares during the last quarter. Amica Retiree Medical Trust purchased a new position in Mattel during the first quarter valued at about $121,000. Sowell Financial Services LLC purchased a new position in Mattel during the fourth quarter valued at about $134,000. Finally, First Interstate Bank raised its position in Mattel by 237.1% in the first quarter. First Interstate Bank now owns 6,682 shares of the company’s stock valued at $171,000 after buying an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 95.20% of the company’s stock.
Shares of Mattel (MAT) traded up 2.02% during trading on Friday, hitting $20.71. 3,317,135 shares of the company’s stock were exchanged. The stock has a market cap of $7.09 billion, a PE ratio of 25.98 and a beta of 0.86. Mattel has a 1-year low of $19.96 and a 1-year high of $34.24. The stock’s 50-day moving average price is $22.14 and its 200-day moving average price is $25.49.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 annualized dividend and a yield of 2.96%. Mattel’s payout ratio is 192.41%.
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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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