Mattel Inc. (MAT) Stock Rating Upgraded by Monness Crespi & Hardt
Mattel Inc. (NASDAQ:MAT) was upgraded by investment analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $37.00 price objective on the stock. Monness Crespi & Hardt’s price target would indicate a potential upside of 17.35% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. B. Riley restated a “buy” rating and set a $38.00 target price on shares of Mattel in a report on Thursday, July 21st. Citigroup Inc. boosted their target price on shares of Mattel from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Jefferies Group set a $36.00 target price on shares of Mattel and gave the stock a “buy” rating in a report on Thursday, July 21st. MKM Partners restated a “hold” rating and set a $33.00 target price on shares of Mattel in a report on Tuesday, July 12th. Finally, Vetr upgraded shares of Mattel from a “sell” rating to a “buy” rating and set a $36.30 target price on the stock in a report on Monday, August 15th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $35.13.
Mattel (NASDAQ:MAT) opened at 31.53 on Monday. The company has a market capitalization of $10.74 billion, a P/E ratio of 31.22 and a beta of 0.93. Mattel has a 12-month low of $19.45 and a 12-month high of $34.76. The stock’s 50 day moving average is $33.00 and its 200-day moving average is $32.33.
Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. The business had revenue of $957.30 million for the quarter, compared to the consensus estimate of $937.85 million. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. On average, equities analysts predict that Mattel will post $1.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 23rd were issued a $0.38 dividend. The ex-dividend date was Friday, August 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.82%. Mattel’s dividend payout ratio (DPR) is currently 149.02%.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total value of $239,286.96. Following the completion of the transaction, the executive vice president now owns 39,348 shares of the company’s stock, valued at $1,320,912.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bollard Group LLC increased its stake in Mattel by 1.2% in the second quarter. Bollard Group LLC now owns 4,078 shares of the company’s stock worth $128,000 after buying an additional 48 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Mattel by 130.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,258 shares of the company’s stock worth $133,000 after buying an additional 2,410 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Mattel by 4.2% in the second quarter. Checchi Capital Advisers LLC now owns 5,573 shares of the company’s stock worth $174,000 after buying an additional 226 shares in the last quarter. IFP Advisors Inc increased its stake in Mattel by 67.1% in the first quarter. IFP Advisors Inc now owns 5,265 shares of the company’s stock worth $177,000 after buying an additional 2,114 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Mattel by 268.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,688 shares of the company’s stock worth $178,000 after buying an additional 4,144 shares in the last quarter. 95.49% of the stock is owned by institutional investors.
Mattel Company Profile
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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