BMO Capital Markets Reaffirms Outperform Rating for Mattel, Inc. (MAT)
BMO Capital Markets reaffirmed their outperform rating on shares of Mattel, Inc. (NASDAQ:MAT) in a research note released on Friday, MarketBeat.com reports. BMO Capital Markets currently has a $25.00 price objective on the stock, down from their prior price objective of $30.00.
MAT has been the topic of a number of other reports. UBS AG restated a buy rating and set a $32.00 price objective on shares of Mattel in a research report on Saturday, April 22nd. MKM Partners decreased their price objective on Mattel from $24.00 to $22.00 and set a buy rating on the stock in a research report on Monday, July 3rd. BidaskClub downgraded Mattel from a hold rating to a sell rating in a research report on Tuesday, June 20th. Stifel Nicolaus restated a hold rating and set a $26.00 price objective on shares of Mattel in a research report on Sunday, April 23rd. Finally, Jefferies Group LLC restated a hold rating and set a $17.00 price objective (down from $19.00) on shares of Mattel in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $26.96.
Mattel (NASDAQ:MAT) opened at 20.02 on Friday. The company’s 50-day moving average price is $20.91 and its 200 day moving average price is $23.82. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 28.72 and a beta of 0.86. Mattel has a 52-week low of $19.16 and a 52-week high of $34.24.
Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.05. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The company had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $972.36 million. During the same quarter last year, the company earned ($0.02) earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts expect that Mattel will post $0.94 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 annualized dividend and a yield of 3.00%. Mattel’s dividend payout ratio (DPR) is currently 220.29%.
A number of hedge funds and other institutional investors have recently made changes to their positions in MAT. Retirement Systems of Alabama boosted its position in shares of Mattel by 0.3% in the second quarter. Retirement Systems of Alabama now owns 166,090 shares of the company’s stock valued at $3,576,000 after buying an additional 558 shares during the period. Candriam Luxembourg S.C.A. boosted its position in shares of Mattel by 72.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 1,054,764 shares of the company’s stock valued at $22,710,000 after buying an additional 444,570 shares during the period. Sei Investments Co. boosted its position in shares of Mattel by 94.4% in the second quarter. Sei Investments Co. now owns 657,924 shares of the company’s stock valued at $14,166,000 after buying an additional 319,438 shares during the period. Speece Thorson Capital Group Inc. boosted its position in shares of Mattel by 8.7% in the second quarter. Speece Thorson Capital Group Inc. now owns 708,115 shares of the company’s stock valued at $15,246,000 after buying an additional 56,731 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Mattel by 2.9% in the second quarter. CIBC Asset Management Inc now owns 48,698 shares of the company’s stock valued at $1,048,000 after buying an additional 1,386 shares during the period. 93.82% of the stock is currently 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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