Brokerages Anticipate Mattel, Inc. (MAT) Will Announce Quarterly Sales of $1.00 Billion
Brokerages expect that Mattel, Inc. (NASDAQ:MAT) will announce $1.00 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Mattel’s earnings. The lowest sales estimate is $978.00 million and the highest is $1.05 billion. Mattel posted 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 report its next earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that Mattel will report full year sales of $1.00 billion for the current fiscal year, with estimates ranging from $5.53 billion to $5.73 billion. For the next financial year, analysts forecast that the firm will report 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 sell-side research analysts that follow Mattel.
Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Thursday, April 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.15. Mattel had a net margin of 5.22% and a return on equity of 13.19%. The business had revenue of $735.60 million during the quarter, compared to analyst estimates of $797.60 million. During the same period in the previous year, the business posted ($0.14) EPS. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year.
A number of research firms have recently commented on MAT. UBS AG reissued a “buy” rating and issued a $29.00 target price on shares of Mattel in a research note on Friday, May 19th. B. Riley reissued a “buy” rating and issued a $30.50 target price on shares of Mattel in a research note on Wednesday, April 26th. BMO Capital Markets reissued a “buy” rating on shares of Mattel in a research note on Wednesday, June 7th. DA Davidson cut Mattel from a “buy” rating to a “neutral” rating and cut their target price for the stock from $30.00 to $24.00 in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $19.00 target price on shares of Mattel in a research note on Monday, June 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Mattel currently has a consensus rating of “Hold” and an average price target of $28.03.
In other news, Director Dean A. Scarborough bought 47,000 shares of the stock in a transaction on Monday, April 24th. The shares were bought at an average price of $21.95 per share, with a total value of $1,031,650.00. Following the completion of the acquisition, the director now owns 77,573 shares in the company, valued at $1,702,727.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in Mattel by 89.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 29,238 shares of the company’s stock valued at $776,000 after buying an additional 13,805 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Mattel by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,402 shares of the company’s stock valued at $651,000 after buying an additional 5,794 shares during the period. Nationwide Fund Advisors increased its position in Mattel by 27.6% in the first quarter. Nationwide Fund Advisors now owns 247,580 shares of the company’s stock valued at $6,341,000 after buying an additional 53,516 shares during the period. Comerica Bank increased its position in Mattel by 11.9% in the first quarter. Comerica Bank now owns 775,112 shares of the company’s stock valued at $17,494,000 after buying an additional 82,210 shares during the period. Finally, Anchor Capital Advisors LLC increased its position in Mattel by 3.0% in the first quarter. Anchor Capital Advisors LLC now owns 898,784 shares of the company’s stock valued at $23,018,000 after buying an additional 26,078 shares during the period. 93.74% of the stock is currently owned by hedge funds and other institutional investors.
Mattel (NASDAQ MAT) traded up 2.758% during mid-day trading on Wednesday, reaching $21.425. 1,567,076 shares of the company traded hands. The company’s 50-day moving average is $21.36 and its 200-day moving average is $24.37. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 26.882 and a beta of 0.85. Mattel has a 12-month low of $19.41 and a 12-month high of $34.24.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 23rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Monday, August 21st. Mattel’s dividend payout ratio is 192.41%.
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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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