NEW YORK ( TheStreet) -- Mattel ( MAT) was the worst performer in the S&P 500 on Monday morning. The S&P was falling 2.74 points, or 0.2%, to 1,367.52.
Shares of Mattel fell 8.03% to $31.39. The toy maker reported Monday first-quarter earnings of $7.8 million, or 2 cents a share, down from year-earlier earnings of $16.6 million, or 5 cents a share. Analysts were expecting profit of 7 cents a share. The company's global net sales fell 2% this quarter with North American gross sales dropping 9%. International sales rose 7%. Mattel has an estimated price-to-earnings ratio for next year of 11.76 times; the average for toys is 15.71. For comparison, Hasbro ( HAS) has a lower forward P/E of 10.97; Leapfrog Enterprises' ( LF) forward P/E is 13.02. Ten of the 14 analysts who cover Mattel rated it buy; four analysts gave the stock a hold rating. TheStreet Ratings gives Mattel an A+ grade with a buy rating and $43.47 price target. The stock has risen 12.82% year to date. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.