Mattel (NASDAQ:MAT) Updates FY23 Earnings Guidance

Mattel (NASDAQ:MAT – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share guidance of $1.10-1.20 for the period, compared to the consensus earnings per share estimate of $1.28.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAT. The Goldman Sachs Group lowered their price target on shares of Mattel from $26.00 to $21.00 and set a buy rating on the stock in a research note on Friday, February 10th. Stifel Nicolaus lowered their price target on shares of Mattel from $29.00 to $26.00 and set a buy rating on the stock in a research note on Tuesday, January 3rd. TheStreet lowered shares of Mattel from a b- rating to a c+ rating in a research note on Wednesday, March 1st. BMO Capital Markets lowered their price objective on shares of Mattel from $30.00 to $27.00 and set an outperform rating on the stock in a research note on Friday, February 10th. Finally, StockNews.com initiated coverage on shares of Mattel in a report on Thursday. They set a hold rating for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Mattel presently has a consensus rating of Moderate Buy and a consensus price target of $24.33.

Mattel Stock Down 2.2 %

Mattel stock opened at $16.25 on Friday. The firm’s fifty day moving average price is $19.00 and its two-hundred day moving average price is $19.02. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 4.22 and a beta of 1.20. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 1.13. Mattel has a 1-year low of $15.36 and a 1-year high of $26.99.

Mattel (NASDAQ:MAT – Get Rating) last issued its earnings results on Wednesday, February 8th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.68 billion. Mattel had a return on equity of 24.47% and a net margin of 7.25%. Mattel’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. On average, equities research analysts predict that Mattel will post 1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mattel

Large investors have recently modified their holdings of the company. Money Concepts Capital Corp bought a new stake in Mattel during the fourth quarter valued at approximately $29,000. Lazard Asset Management LLC purchased a new position in shares of Mattel during the first quarter worth approximately $86,000. Captrust Financial Advisors raised its stake in shares of Mattel by 28.8% during the second quarter. Captrust Financial Advisors now owns 5,855 shares of the company’s stock worth $131,000 after acquiring an additional 1,308 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Mattel during the fourth quarter worth approximately $180,000. Finally, CI Private Wealth LLC purchased a new position in shares of Mattel during the fourth quarter worth approximately $182,000. 96.93% of the stock is currently owned by institutional investors.

About Mattel

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Mattel, Inc engages in the ownership of children’s and family entertainment franchises. It operates through the following segments: North America, International, and American Girl. The North America and International segments focus on marketing and selling toys and consumer products. The American Girl segment includes marketing, retailing, and publishing dedicated to its mission to help girls grow up with confidence and character.