Mattel (NASDAQ:MAT) Shares Up 4.9% on Better-Than-Expected Earnings

Mattel, Inc. (NASDAQ:MAT) shot up 4.9% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $20.07 and last traded at $19.64. 1,659,778 shares were traded during mid-day trading, a decline of 44% from the average session volume of 2,954,972 shares. The stock had previously closed at $18.73.

The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. Mattel had a net margin of 3.94% and a return on equity of 21.25%. The firm had revenue of $809.50 million during the quarter, compared to the consensus estimate of $833.52 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue was down .6% compared to the same quarter last year.

Wall Street Analyst Weigh In

MAT has been the subject of several recent research reports. Citigroup boosted their target price on shares of Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Roth Mkm restated a “neutral” rating and set a $21.00 price target on shares of Mattel in a report on Wednesday. Jefferies Financial Group boosted their price target on shares of Mattel from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, March 15th. Bank of America boosted their price target on shares of Mattel from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, TheStreet cut shares of Mattel from a “b-” rating to a “c+” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.78.

Institutional Trading of Mattel

A number of institutional investors have recently modified their holdings of MAT. Jericho Capital Asset Management L.P. bought a new stake in Mattel during the 3rd quarter worth approximately $76,819,000. Stifel Financial Corp increased its holdings in Mattel by 161.8% during the 3rd quarter. Stifel Financial Corp now owns 146,494 shares of the company’s stock worth $3,227,000 after acquiring an additional 90,539 shares during the period. Seven Eight Capital LP increased its holdings in Mattel by 548.8% during the 3rd quarter. Seven Eight Capital LP now owns 75,114 shares of the company’s stock worth $1,655,000 after acquiring an additional 63,536 shares during the period. Trexquant Investment LP increased its holdings in Mattel by 256.4% during the 3rd quarter. Trexquant Investment LP now owns 287,342 shares of the company’s stock worth $6,330,000 after acquiring an additional 206,729 shares during the period. Finally, Xponance Inc. increased its holdings in Mattel by 6.1% during the 3rd quarter. Xponance Inc. now owns 45,618 shares of the company’s stock worth $1,005,000 after acquiring an additional 2,629 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Mattel Stock Up 2.4 %

The stock’s fifty day moving average is $19.30 and its two-hundred day moving average is $19.08. The company has a current ratio of 2.33, a quick ratio of 1.90 and a debt-to-equity ratio of 1.08. The firm has a market cap of $6.60 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.24 and a beta of 0.95.

Mattel Company Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.