Shares of Mattel, Inc. (NASDAQ:MAT) stock are up over 6% in the pre-market this morning, after the company released their quarterly earnings report. Thanks in part to Barbie sales, the company saw some really good numbers, beating the expectations of Wall Street.
The Fourth Quarter saw Barbie sales increase by 8 percent (on a constant currency), after years of sales declines, and Mattel, Inc. (NASDAQ:MAT) reported profits for the quarter of $215.2 million which equates to $0.63 per share. This comes on sales of $2 billion. Profits incrased a whopping 44% year-over-year whle earnings per share jumped 19 cents.
The stock closed at $26.76 during the last trading session. It is down 0.52% since June 26, 2015 and is downtrending. It has outperformed the S&P500 by 7.19%.
From a total of 6 analysts covering Mattel Inc. (NASDAQ:MAT) stock, 5 rate it a “Buy”, 0 a “Sell”, and 1 a “Hold”. This means that 83% of the ratings are positive. The highest target price is $33 while the lowest target price is $22. The mean of all analyst targets is $26.83 which is 0.26% above today’s ($26.76) stock price. Mattel Inc. was the topic of 7 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs upgraded shares on January 25 to a “Conviction Buy” rating. Oppenheimer initiated shares with a”Outperform” rating and a $28 target share price in their report from an August 20. Jefferies initiated MAT stock in a recent report from December 4 with a “Buy” rating. Finally, Piper Jaffray maintained the stock with a “Neutral” rating in a report they issued on an August 14.
The institutional sentiment increased to 1.13 in Q2 2015. It’s up 0.30, from 0.83 in 2015Q2. The ratio is positive, as 56 funds sold all their Mattel, Inc. shares they owned while 152 reduced their positions. 47 funds bought stakes while 187 increased their total positions. Institutions now own 337.80 million shares which is 1.17% more than the previous share count of 333.89 million in 2015Q2.
Poplar Forest Capital Llc holds 4.17% of its total portfolio in Mattel, Inc., equating to 2.13 million shares. Fairpointe Capital Llc owns 10.80 million shares representing 3.87% of their total US portfolio. Moreover, Kempen Capital Management N.V. has 2.97% of their total portfolio invested in the company, equating to 1.16 million shares. The Minnesota-based Speece Thorson Capital Group Inc has a total of 2.65% of their portfolio invested in the stock. Lapides Asset Management Llc, a Connecticut-based fund reported 717,000 shares owned.
MATTEL, INC. designs, manufactures, and markets a variety of toy products around the world, which are sold to its clients and directly to consumers. The company has a market cap of $9.08 billion. The Firm operates through three divisions: North America, which consists of the United States and Canada, International, and American Girl. It has 30.28 P/E ratio. The Company’s North America segment markets and sells toys in the United States and Canada through the Mattel Girls & Boys Brands, Fisher-Price Brands, and Construction and Arts & Crafts Brands categories.