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14 November 2017, 12:51 | Lionel James
Mattel shares soar on report of Hasbro takeover offer
Mattel shares rocketed 24% to $18.14 a share in trading after the close of the market Friday when the news broke. For the quarter, shares are performing at -16.12%. During the same quarter in the previous year, the firm earned $0.70 EPS. research analysts predict that Mattel, Inc. will post 0.04 EPS for the current fiscal year.
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. The business's revenue for the quarter was down 13.1% on a year-over-year basis.
COPYRIGHT VIOLATION WARNING: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. The ex-dividend date was Friday, November 18th. This number lands on a scale from 1 to 5.
Several research analysts have weighed in on MAT shares.
Mattel has pointed to that bankruptcy as a reason for weak sales. Jefferies Group reaffirmed a "buy" rating and set a $36.00 price target on shares of Mattel in a research report on Thursday, October 13th.
Mattel's stance towards Hasbro in this overture is not clear, and it remains far from certain that a deal will materialise, the source said, asking not to be identified because the matter is confidential. A rating of 1 or 2 would represent a Buy, and a 3 rating would signify a Hold on the stock.
A combination of the two companies would bring an impressive portfolio of brands under one roof. The stock now has a consensus rating of "Buy" and a consensus price target of $35.38. The stock was sold at an average price of $30.79, for a total transaction of $277,110.00. Capital World Investors now owns 1,559,700 shares of the company's stock valued at $33,580,000 after acquiring an additional 1,090,000 shares during the period. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The company presently has a consensus rating of "Hold" and a consensus price target of C$21.46.
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