Mattel: S&P Intraday Laggard

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.

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-- Written by Alexandra Zendrian

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