Mattel (NASDAQ:MAT) Reaches New 12-Month High After Strong Earnings

Mattel, Inc. (NASDAQ:MAT) hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $21.35 and last traded at $21.22, with a volume of 2233923 shares trading hands. The stock had previously closed at $18.07.

The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.15. Mattel had a net margin of 10.24% and a return on equity of 25.39%. During the same period last year, the company earned $0.29 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MAT shares. StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. DA Davidson boosted their price objective on shares of Mattel from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Mattel from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group raised shares of Mattel from a “hold” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $28.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Mattel presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of Mattel by 3.1% in the 3rd quarter. State Street Corp now owns 10,517,270 shares of the company’s stock worth $200,354,000 after acquiring an additional 318,125 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Mattel by 84.0% in the 3rd quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company’s stock worth $176,757,000 after acquiring an additional 4,270,162 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Mattel by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,291,976 shares of the company’s stock valued at $119,862,000 after purchasing an additional 27,204 shares during the last quarter. Geode Capital Management LLC grew its position in Mattel by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,134,691 shares of the company’s stock valued at $116,896,000 after purchasing an additional 17,309 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Mattel by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,390,675 shares of the company’s stock valued at $77,847,000 after purchasing an additional 127,064 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

Mattel Stock Up 2.8 %

The company’s 50-day moving average is $18.51 and its 200 day moving average is $18.84. The company has a market capitalization of $7.22 billion, a PE ratio of 13.39, a P/E/G ratio of 0.88 and a beta of 0.76. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45.

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.