Why Mattel Stock Jumped This Morning
Shares of toy company (NASDAQ: MAT) jumped on Wednesday morning following its financial report for the fiscal first quarter of 2024. As of noon ET, Mattel stock was up almost 5%.
The stock market's positive reaction to Mattel's financial results is a little surprising. Q1 net sales were down 1% year over year to $810 million, which was below expectations. The company's gross margin had a strong improvement to 48%. Its net loss improved by $78 million compared to the prior-year period. But despite the profit improvements, it still had a Q1 net loss of $28 million.
In short, Mattel's financial results may have had some encouraging elements, but I wouldn't necessarily call them good.
Source Fool.com
Mattel Inc. Stock
€15.51
2.390%
Mattel Inc. is currently one of the favorites of our community with 8 Buy predictions and no Sell predictions.
As a result the target price of 24 € shows a very positive potential of 54.79% compared to the current price of 15.51 € for Mattel Inc..
