Published: Tue, November 14, 2017
Money | By Charlene Sutton

Mattel shares skyrocket more than 20% on report of Hasbro takeover interest

Mattel shares skyrocket more than 20% on report of Hasbro takeover interest

Shares in Mattel have lost almost half their value this year and it has a market value of $5 billion, less than half that of Hasbro. The institutional investor owned 151,295 shares of the company's stock after selling 7,749 shares during the quarter. Mattel had a net margin of 6.39% and a return on equity of 16.55%. The firm had revenue of C$1.56 billion during the quarter, compared to the consensus estimate of C$1.82 billion. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and worldwide trademark & copyright law. During the same quarter in the prior year, the business earned $0.71 EPS.

Several research analysts have weighed in on MAT shares. Corporate insiders own 0.88% of the company's stock.

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The three major stock market benchmarks closed with slim gains, while news of takeover bids and profit forecasts drove swings in shares of individual companies. UBS AG reiterated a "buy" rating and issued a $23.00 price target on shares of Mattel in a research note on Saturday, September 16th.

The stance by Mattel toward Hasbro related to this approach is not known and it remains far from being certain a deal will eventually materialize, said the source, who asked to remain anonymous since the matter was confidential.

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"Mattel has struggled with slumping sales despite hiring a new chief executive early this year, Margo Georgiadis, a former Google executive", writes James F. Peltz for the Los Angeles Times. Current price levels see the company 22.13% off the 20-day simple moving average.

A combination of the two companies would bring an impressive portfolio of brands under one roof. The company has a consensus rating of "Hold" and a consensus price target of C$21.46. The Company's segments are North America; International, and American Girl.

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A tie-up would create a toy powerhouse, uniting Hasbro's brands, which also include My Little Pony, with Mattel's Barbie dolls and Hot Wheels toys.

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