2023-07-24 06:45:34 ET
Mattel ( NASDAQ: MAT ) broke higher in premarket action after Barbie took in $155M in the U.S. box office to mark the biggest domestic opening of the year. The film about Mattel's ( MAT ) iconic toy doll took in another $182M from 70 global markets for a total weekend haul of $337M.
Shares of Mattel ( MAT ) were up 1.75% in premarket action and are up more than 17% over the last six weeks as investors see some sales upside from the unprecedented global exposure for the Barbie brand. 11 out of 12 analysts on Wall Street have a Buy-equivalent rating or higher on Mattel ( MAT ). The Seeking Alpha Quant Rating is at Hold due to low marks for valuation and growth.
Mattel ( MAT ) is due to report earnings on July 26. Analysts expect revenue of $998M and EPS of -$0.03 to be reported. Five of the last seven EPS revisions from analysts have been on the downward side. Options trading implies a double-digit move in share price after Mattel ( MAT ) reports. The toy stock rallied 6% after the company's last earnings report.
More on Mattel:
- Mattel extends rally after S&P upgrades to investment grade
- Mattel defends Barbie trademark in legal battle with Burberry
- Mattel stock wavers as inventory issues overshadow top-line beat
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Mattel gains after record-breaking U.S. box office haul for Barbie film