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
Mattel Inc. is currently one of the favorites of our community with 12 Buy predictions and no Sell predictions.
As a result the target price of 24 € shows a positive potential of 41.3% compared to the current price of 16.99 € for Mattel Inc..
