Mattel (NASDAQ:MAT) Trading 4.9% Higher Following Strong Earnings

Shares of Mattel, Inc. (NASDAQ:MAT) shot up 4.9% on Wednesday following a stronger than expected earnings report. The company traded as high as $20.07 and last traded at $19.64. 1,659,778 shares were traded during 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 (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Mattel had a return on equity of 21.25% and a net margin of 3.94%. The business had revenue of $809.50 million for the quarter, compared to analysts’ expectations of $833.52 million. During the same quarter last year, the firm earned ($0.24) earnings per share. The business’s revenue was down .6% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MAT. Stifel Nicolaus decreased their price objective on Mattel from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. DA Davidson lifted their target price on Mattel from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday. Roth Mkm reiterated a “neutral” rating and issued a $21.00 target price on shares of Mattel in a report on Wednesday. Jefferies Financial Group lifted their target price on Mattel from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, March 15th. Finally, StockNews.com upgraded Mattel from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.38.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Mattel by 0.4% in the third quarter. Vanguard Group Inc. now owns 34,317,700 shares of the company’s stock valued at $756,019,000 after acquiring an additional 142,123 shares during the period. Capital International Investors boosted its position in shares of Mattel by 7.4% during the fourth quarter. Capital International Investors now owns 18,386,007 shares of the company’s stock worth $347,128,000 after buying an additional 1,272,018 shares during the period. Victory Capital Management Inc. boosted its position in shares of Mattel by 12.9% during the fourth quarter. Victory Capital Management Inc. now owns 7,541,422 shares of the company’s stock worth $142,382,000 after buying an additional 861,638 shares during the period. HS Management Partners LLC boosted its position in shares of Mattel by 21.5% during the fourth quarter. HS Management Partners LLC now owns 4,603,400 shares of the company’s stock worth $86,912,000 after buying an additional 813,500 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Mattel by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,039,571 shares of the company’s stock worth $76,272,000 after buying an additional 716,558 shares during the period. 97.15% of the stock is owned by hedge funds and other institutional investors.

Mattel Stock Performance

The company has a quick ratio of 1.90, a current ratio of 2.33 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average price of $19.30 and a 200-day moving average price of $19.08. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 1.24 and a beta of 0.95.

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.