Zacks: Analysts Anticipate Mattel, Inc. (MAT) Will Announce Quarterly Sales of $1.84 Billion
Analysts expect Mattel, Inc. (NASDAQ:MAT) to post $1.84 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Mattel’s earnings. The lowest sales estimate is $1.75 billion and the highest is $1.92 billion. Mattel posted sales of $1.80 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The business is expected to announce its next earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that Mattel will report full year sales of $1.84 billion for the current year, with estimates ranging from $5.28 billion to $5.69 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.59 billion per share, with estimates ranging from $5.12 billion to $5.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Mattel.
Mattel (NASDAQ:MAT) last released its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Mattel had a return on equity of 11.62% and a net margin of 4.51%. The business had revenue of $974.50 million during the quarter, compared to the consensus estimate of $972.36 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Mattel’s quarterly revenue was up 1.8% compared to the same quarter last year.
MAT has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “hold” rating on shares of Mattel in a research note on Thursday, August 3rd. Monness Crespi & Hardt increased their price target on Mattel from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. BidaskClub upgraded Mattel from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $17.00 price target on shares of Mattel in a research note on Thursday, September 7th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $17.00 price target (down from $22.00) on shares of Mattel in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Mattel currently has an average rating of “Hold” and a consensus target price of $23.42.
In related news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $19.61 per share, with a total value of $248,262.60. Following the completion of the acquisition, the chief executive officer now directly owns 116,788 shares in the company, valued at $2,290,212.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Sentry Investment Management LLC grew its holdings in Mattel by 0.3% in the second quarter. Sentry Investment Management LLC now owns 25,759 shares of the company’s stock valued at $555,000 after purchasing an additional 67 shares during the period. Louisiana State Employees Retirement System grew its holdings in Mattel by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the company’s stock valued at $456,000 after purchasing an additional 200 shares during the period. Private Advisor Group LLC grew its holdings in Mattel by 1.3% in the second quarter. Private Advisor Group LLC now owns 16,306 shares of the company’s stock valued at $341,000 after purchasing an additional 204 shares during the period. Boyd Watterson Asset Management LLC OH grew its holdings in Mattel by 1.4% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 18,951 shares of the company’s stock valued at $408,000 after purchasing an additional 253 shares during the period. Finally, Simmons Bank grew its holdings in Mattel by 0.6% in the second quarter. Simmons Bank now owns 55,546 shares of the company’s stock valued at $1,196,000 after purchasing an additional 339 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.
Mattel (MAT) traded up 1.01% during midday trading on Friday, reaching $15.97. The company had a trading volume of 12,067,417 shares. The firm has a 50-day moving average of $15.51 and a 200 day moving average of $19.71. Mattel has a 1-year low of $14.35 and a 1-year high of $33.23. The company has a market capitalization of $5.47 billion, a P/E ratio of 22.49 and a beta of 0.86.
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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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