Mattel Stock Swells on Merger Talk

14 November, 2017, 00:24 | Author: Darnell Patrick
  • Screen Shot 2017 11 10

In fact, of the top-five toy items or toy lines out on the market right now, none of them are Hasbro or Mattel.

Mattel has reportedly been struggling with poor sales. Jefferies Group LLC reiterated a "hold" rating and issued a $17.00 price target (down previously from $19.00) on shares of Mattel in a research note on Friday, July 28th. Shares of Hasbro rose 3.6% to $94.70 after hours. Analysts have also given a consensus recommendation on the stock of 2.40.

Mattel, Inc. has a 52 week low of C$12.71 and a 52 week high of C$32.48. "Hasbro would have a larger stable of tech-driven toys, and could fold Mattel's know-how into its own projects", observes Jon Fingas for Engadget.


"Mattel in late October reported a 14% drop in its third-quarter sales", he continues. The company reported C$0.09 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of C$0.58 by C ($0.49). A rating of 4 or 5 would indicate a Sell. Finally, DA Davidson downgraded shares of Mattel from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $22.00 to $18.00 in a report on Thursday, August 3rd. BMO Capital Markets upped their target price on Mattel from $23.00 to $25.00 and gave the company an "outperform" rating in a research report on Monday, October 30th.

A combination of the two companies would bring an impressive portfolio of brands under one roof. This represents a change from the opening price of -0.45%. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of US and worldwide copyright law. If you are accessing this article on another site, it was stolen and reposted in violation of USA & global copyright & trademark law. The Company's segments are North America; International, and American Girl.

The maker of Barbie, Hot Wheels and Fisher Price products attributed its weak financials to the bankruptcy of toy retailer Toys "R" US Inc.as well as weak demand across its core products.

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