Mattel (NYSE:MAT)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Thursday, Stock Ratings Network.com reports. They currently have a $44.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 3.75% from the stock’s previous close.
Zacks‘ analyst wrote, “Mattel reported strong third-quarter 2013 results wherein both earnings per share and revenues beat the Zacks Consensus Estimate. While net sales increased 6.2%, earnings per share grew 11.5% year over year. An increase in international as well as domestic sales, along with margin expansion led to higher earnings. Apart from the consistently healthy performances by The American Girl and Monster High brands, the turnaround of Barbie – the company’s powerhouse brand in the third quarter was noteworthy. We believe, Mattel’s solid product line-up, strategic association with entertainment companies and expansion into the emerging markets will bode well for future growth. However, faltering consumer confidence and tough retail environment are causes of concern. Hence, we remain Neutral on the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets cut their price target on shares of Mattel from $46.00 to $44.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Mattel from $41.00 to $42.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Finally, analysts at B. Riley raised their price target on shares of Mattel from $51.00 to $55.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.45.
Shares of Mattel (NYSE:MAT) traded up 1.05% during mid-day trading on Thursday, hitting $42.41. The stock had a trading volume of 3,961,949 shares. Mattel has a 1-year low of $34.85 and a 1-year high of $48.48. The stock’s 50-day moving average is $41.7 and its 200-day moving average is $43.59. The company has a market cap of $14.613 billion and a price-to-earnings ratio of 18.84. Mattel also was the recipient of some unusual options trading on Tuesday. Stock investors bought 7,133 put options on the stock. This represents an increase of approximately 681% compared to the average daily volume of 913 put options.
Mattel (NYSE:MAT) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $1.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.04. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company posted $1.04 earnings per share. Mattel’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that Mattel will post $2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Monday, November 25th.
Mattel, Inc (NYSE:MAT) designs, manufactures and markets a variety of toy products worldwide which are sold to its customers and directly to consumers.
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