Is It Time to Take a Shot on a Mattel Turnaround?
For some time now, Mattel (NASDAQ: MAT) has been a tough stock to hold. Shares of the toymaker peaked in 2013, as did revenue and earnings, but have been on a gradual slide ever since. The stock hit yet another new multiyear low in August, largely in response to accusations of accounting irregularities, although deteriorating prospects and the absence of Toys R Us made it an easy target. Never mind the fact that Amazon.com continues to make inroads into the toy market.
The company's recently reported third-quarter results, however, offer some suggestion that perhaps Mattel has turned the corner. Though the stock's initial surge last Tuesday in response to the Q3 earnings and revenue beat eventually leveled off, it looks as if the tide is finally turning bullish.
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Source Fool.com
