Mattel (MAT) Stock Jumps in After-Hours Trading on Q2 Results
NEW YORK (TheStreet) -- Shares of Mattel (MAT) - Get Report are climbing 4.14% to $34.19 in after-hours trading after the company posted a narrower-than-expected loss for the 2016 second quarter.
After today's market close, the El Segundo, CA-based toy company reported an adjusted loss of 2 cents per share, while analysts were expecting a loss of 5 cents per share.
Revenue for the quarter was $957.3 million, above Wall Street's estimates of $936.6 million.
"We are encouraged by our results in the second quarter, which reflect good ongoing progress in our turnaround," CEO Christopher Sinclair said in a statement.
"Importantly, we continue to see improved brand momentum across much of our portfolio, and our slate of entertainment licenses is strong and building," he added.
Additionally, gross margin declined to 45.3% compared to 47.9% last year.
About 3.74 million of Mattel's shares changed hands today compared to its average volume of 3.46 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance.
But the team also finds weaknesses including weak operating cash flow, deteriorating net income and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MAT