Roth Capital Comments on Mattel, Inc.'s Q2 2024 Earnings (NASDAQ:MAT)

Mattel, Inc. (NASDAQ:MAT - Free Report) - Roth Capital lowered their Q2 2024 EPS estimates for Mattel in a report issued on Wednesday, April 24th. Roth Capital analyst E. Handler now expects that the company will post earnings per share of $0.16 for the quarter, down from their prior estimate of $0.17. Roth Capital has a "Neutral" rating on the stock. The consensus estimate for Mattel's current full-year earnings is $1.39 per share. Roth Capital also issued estimates for Mattel's Q3 2024 earnings at $0.93 EPS and FY2026 earnings at $1.74 EPS.

MAT has been the subject of several other reports. JPMorgan Chase & Co. downgraded shares of Mattel from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $24.00 to $19.00 in a research report on Monday, February 5th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $19.00 price objective (down from $25.00) on shares of Mattel in a research note on Wednesday, January 17th. Citigroup boosted their target price on Mattel from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of Mattel from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, January 24th. Finally, Bank of America upped their price objective on shares of Mattel from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Mattel has a consensus rating of "Moderate Buy" and an average target price of $22.78.

Mattel Price Performance

Shares of NASDAQ:MAT traded down $0.11 during midday trading on Friday, hitting $18.36. The stock had a trading volume of 3,032,240 shares, compared to its average volume of 3,034,059. The company has a quick ratio of 1.90, a current ratio of 2.49 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $6.32 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.26 and a beta of 0.95. The company's 50-day moving average price is $19.29 and its 200-day moving average price is $19.07. Mattel has a fifty-two week low of $16.20 and a fifty-two week high of $22.64.

Mattel (NASDAQ:MAT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The company had revenue of $809.50 million for the quarter, compared to analysts' expectations of $833.52 million. During the same quarter last year, the business earned ($0.24) earnings per share. Mattel's revenue was down .6% on a year-over-year basis.

Institutional Trading of Mattel

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. bought a new stake in Mattel in the first quarter valued at approximately $406,000. Krilogy Financial LLC boosted its stake in shares of Mattel by 31.1% in the 1st quarter. Krilogy Financial LLC now owns 55,656 shares of the company's stock valued at $1,103,000 after purchasing an additional 13,214 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Mattel by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 101,700 shares of the company's stock worth $2,015,000 after buying an additional 2,500 shares during the period. State of Michigan Retirement System raised its stake in Mattel by 2.4% during the first quarter. State of Michigan Retirement System now owns 86,733 shares of the company's stock worth $1,718,000 after buying an additional 2,000 shares during the last quarter. Finally, Thompson Investment Management Inc. lifted its holdings in Mattel by 8.8% in the first quarter. Thompson Investment Management Inc. now owns 14,780 shares of the company's stock valued at $293,000 after buying an additional 1,200 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

About Mattel

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.