Mattel (MAT) Debt Trading 3.5% Lower Earnings

An issue of Mattel, Inc. (NASDAQ:MAT) bonds fell 3.5% as a percentage of their face value during trading on Thursday following a dissappointing earnings announcement. The debt issue has a 6.75% coupon and is set to mature on December 31, 2025. The debt is now trading at $98.00 and was trading at $102.50 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price. The company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.93). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.69 billion. Mattel had a negative net margin of 11.73% and a positive return on equity of 2.51%. Mattel’s revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share.

A number of equities research analysts recently commented on MAT shares. UBS Group set a $22.00 price objective on shares of Mattel and gave the company a “buy” rating in a research note on Friday, October 27th. Jefferies Group set a $17.00 price objective on shares of Mattel and gave the company a “hold” rating in a research note on Saturday, December 2nd. Monness Crespi & Hardt cut shares of Mattel from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 12th. TheStreet cut shares of Mattel from a “c” rating to a “d” rating in a research note on Thursday, October 26th. Finally, ValuEngine raised shares of Mattel from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.45.

A number of large investors have recently added to or reduced their stakes in the business. Kovack Advisors Inc. purchased a new position in Mattel in the 4th quarter valued at about $620,000. CIBC World Markets Inc. purchased a new position in shares of Mattel during the 4th quarter worth about $912,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Mattel by 7.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,286 shares of the company’s stock worth $1,127,000 after acquiring an additional 4,951 shares during the period. High Pointe Capital Management LLC purchased a new position in shares of Mattel during the 4th quarter worth about $311,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Mattel during the 4th quarter worth about $253,000. Institutional investors own 93.86% of the company’s stock.

The firm has a market cap of $5,270.00, a price-to-earnings ratio of -8.75, a price-to-earnings-growth ratio of 5.85 and a beta of 1.01. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.89.

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About Mattel

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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