Mattel, Inc. (NYSE: MAT)
Mattel, Inc. (MAT), a global toy company yesterday after market reported positive fourth quarter and full year 2015 financial results. Mattel reported a profit of $215.2 million compared to $149.9 million from the previous year. Mattel reported earnings per share of $0.63 which is up from last years numbers of $0.44 and beat analyst expectations of $0.60 per share.
Mattel, Inc. CEO’s Comments
“We are encouraged by our results in the quarter and for the year, which reflect solid progress on a number of important fronts,” said Chris Sinclair, Mattel Chairman and CEO. “We achieved our goal of stabilizing the business, with improved gross sales both in the quarter and for the full year. In addition, we drove significant momentum across the majority of our core brands, most of which saw stronger retail sales and shipping, and we continued to make headway in key emerging markets like China and Russia. Overall, we are pleased with our performance at this stage of our turnaround.” PR Newswire
MAT Technical Analysis
MAT opened trading on Monday at $27.70 and closed the day at $26.76 down $0.94, or equivalent to 3%. In after hours with the release of positive earnings numbers MAT shot up to $28.30, equivalent to 6%. Taking a look at the daily chart we can see that last time that MAT traded above this price level was on April 25th when it traded at $28.43. Taking a closer look at the daily chart we can see that MAT has been on overall upswing dating back to October 2nd when it traded at its 52 week low price of $19.45. MAT is currently approaching its 52 week high price of $30.44. MAT has a float of 338.32 million shares and traded 1.5 times the normal daily trading volume on Monday. For trading purposes, I would be looking for MAT to make an attempt to test its 52 week high price of $30.44 in trading on Tuesday.
Mattel, Inc. designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers dolls and accessories, vehicles and play sets, and games and puzzles under the Mattel Girls & Boys brands, including Barbie, Monster High, Disney Classics, Ever After High, Little Mommy, Polly Pocket, Hot Wheels, Matchbox, CARS, Disney Planes, BOOMco, Radica, Toy Story, Max Steel, WWE Wrestling, and Batman. The company also provides its products under the Fisher-Price brands, such as Fisher-Price, Little People, BabyGear, Laugh & Learn, Imaginext, Thomas & Friends, Dora the Explorer, Mickey Mouse Clubhouse, Disney Jake, the Never Land Pirates, and Power Wheels. In addition, it offers its products under the American Girl brands comprising My American Girl, Bitty Baby, Grace Thomas, and the 2015 Girl of the Year doll; and construction, and arts and crafts brands, such as MEGA BLOKS, RoseArt, and Board Dudes, as well as publishes Advice & Activity books and the American Girl magazine. Mattel, Inc. sells its products directly to consumers via its catalog, Website, and proprietary retail stores, as well as directly to retailers, including discount and free-standing toy stores, chain stores, department stores, and other retail outlets; to wholesalers; and through agents and distributors. The company was founded in 1945 and is headquartered in El Segundo, California. Yahoo Finance