Mattel (MAT) Beats Q1 Expectations

Mattel, Inc. (MAT) shares are up $1.58 to $26.85 in after-hours trading Thursday after the company reported its first quarter earnings results.

The toy maker recorded earnings of ($0.08) per share on revenues of $922.7 million, down 2.5% from a year ago. Analysts were expecting EPS of ($0.09) on revenues of $896.54 million. For the quarter, net loss came in at $58.2 million, or ($0.17) per share, compared with $11.2 million, or ($0.03) per share, a year earlier. The company also reported a net sales increase of 5% in constant currency compared to last year.

“In the first quarter, we took a number of steps to implement a rapid turnaround at Mattel,” said Christopher Sinclair, Mattel Chairman and CEO ina statement. “We are already benefitting from better decision-making, alignment and enhanced accountability.”

On valuation measures, Mattel Inc. shares, which currently have an average 3-month trading volume of 5.94 million shares, trade at a trailing-12 P/E of 17.43, a forward P/E of 15.99 and a P/E to growth ratio of 3.07. The median Wall Street price target on the name is $25.00 with a high target of $30.00. Currently ticker boasts 3 ‘Buy’ endorsements, compared to 13 ’Holds’ and no ‘Sell’.

Profitability-wise, MAT has a t-12 profit and operating margin of 8.28% and 12.18%, respectively. The $8.55 billion market cap company reported $682.9 million in cash vs. $2.10 billion in debt in its most recent quarter.

MAT currently prints a one year loss of about 30% and a year-to-date loss of around 17%.

The chart below shows where the equity has traded over the last 52 weeks.

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