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 13 Buy predictions and not the single Sell prediction the community is currently very high on Mattel Inc..
With a target price of 16 € there is a positive potential of 23.19% for Mattel Inc. compared to the current price of 12.99 €.
