Mattel (NASDAQ:MAT) Updates FY 2023 Earnings Guidance

Mattel (NASDAQ:MAT – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.90- for the period, compared to the consensus estimate of $1.95. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

MAT has been the topic of a number of analyst reports. StockNews.com upgraded Mattel from a hold rating to a buy rating in a research note on Tuesday, July 12th. The Goldman Sachs Group upgraded Mattel from a neutral rating to a buy rating and upped their target price for the stock from $30.00 to $31.00 in a report on Sunday, July 10th. MKM Partners dropped their target price on shares of Mattel from $34.00 to $30.00 and set a buy rating on the stock in a research note on Thursday, July 7th. Finally, Jefferies Financial Group lowered their price objective on shares of Mattel from $27.00 to $24.00 in a research report on Friday, July 15th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Mattel currently has a consensus rating of Buy and an average target price of $31.88.

Mattel Stock Performance

Shares of NASDAQ MAT opened at $22.45 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.03 and a debt-to-equity ratio of 1.34. Mattel has a 12 month low of $17.94 and a 12 month high of $26.99. The company has a 50 day simple moving average of $23.16 and a two-hundred day simple moving average of $23.19. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 7.10 and a beta of 1.26.

Mattel (NASDAQ:MAT – Get Rating) last released its earnings results on Thursday, July 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. Mattel had a net margin of 19.31% and a return on equity of 37.28%. During the same quarter last year, the business earned $0.03 earnings per share. As a group, analysts predict that Mattel will post 1.46 earnings per share for the current year.

Institutional Trading of Mattel

Hedge funds have recently added to or reduced their stakes in the company. Kinneret Advisory LLC increased its stake in Mattel by 2.3% in the first quarter. Kinneret Advisory LLC now owns 23,608 shares of the company’s stock valued at $524,000 after purchasing an additional 528 shares during the last quarter. Raymond James & Associates grew its position in shares of Mattel by 5.3% during the first quarter. Raymond James & Associates now owns 12,092 shares of the company’s stock worth $269,000 after acquiring an additional 604 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Mattel by 5.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 14,418 shares of the company’s stock worth $320,000 after acquiring an additional 788 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Mattel by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 39,485 shares of the company’s stock worth $876,000 after acquiring an additional 948 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Mattel by 5.7% during the first quarter. Quantbot Technologies LP now owns 37,404 shares of the company’s stock worth $830,000 after acquiring an additional 2,001 shares during the last quarter. Institutional investors and hedge funds own 97.94% of the company’s stock.

About Mattel

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Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as content, gaming, and lifestyle products for children under the Barbie, Monster High, American Girl, Polly Pocket, Spirit, and Enchantimals brands; dolls and books under the American Girl brand name; die-cast vehicles, tracks, playsets, and accessories for kids of all ages, and collectors under the Hot Wheels, Monster Trucks, Matchbox, CARS, and Mario Kart brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends, Power wheels, and Fireman Sam brands.