Why Mattel Stock Popped 12% on Wednesday
(NASDAQ: MAT) stock made like a Jack-in-the-box this morning, popping up 12.5% through 10:55 a.m. ET after reporting a big fourth-quarter earnings beat after the market closed Tuesday.
For the period, analysts had forecast Mattel would earn only $0.20 per share, adjusted for one-time items, on sales of $1.63 billion. Instead, Mattel reported adjusted earnings of $0.35 per share on sales of $1.65 billion.
Mattel's sales grew 2% year over year, and the gross profit margin it earned on those sales expanded by 190 basis points to 50.7%. On the bottom line, Mattel's earnings as calculated according to generally accepted accounting principles (GAAP) exceeded its adjusted earnings, coming in at $0.42 per share -- exactly equal to 2023's Q4 GAAP earnings.
Source Fool.com
Mattel Inc. Stock
With 9 Buy predictions and not the single Sell prediction the community is currently very high on Mattel Inc..
With a target price of 21 € there is a positive potential of 22.06% for Mattel Inc. compared to the current price of 17.21 €.
