NEW YORK (TheStreet) -- Shares of Mattel Inc (MAT) - Get Report were slipping by 4.57% to $24 in late morning trading Friday, following the release of the toy manufacturer's second quarter earnings results after the market closed yesterday.
In its latest quarter, the company earned 1 cent per share, topping analysts' expectations for a loss of 4 cent per share.
Revenue for the period came in at $988.2 million, falling short of analysts' $999.9 million estimate.
Mattel, the maker of the American Girl dolls among other toys, reported a 19% sales slump of its famous Barbie doll, according to Yahoo! Finance.
The company also said it was hurt by the strong dollar.
Mattel's new CEO Christopher Sinclair is trying to better the company's financials amid his turnaround efforts, CNBC reports.
El Segunda, Calif.-based Mattel designs, manufactures and markets a variety of toy products worldwide which are sold to its customers and directly to consumers, with a portfolio of brands including Barbie, Polly Pocket, and Hot Wheels.
Separately, TheStreet Ratings team rates MATTEL INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MATTEL INC (MAT) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow."
You can view the full analysis from the report here: MAT Ratings Report