KeyBanc Downgrades Mattel to “Hold” (MAT)
Despite KeyBanc viewing Mattel, Inc. (MAT) as a high quality company with a strong long-term potential, the analysts downgraded the toy maker partially due to its recent strong performance.
The analysts downgraded MAT from “Buy” to “Hold.”
“We are downgrading MAT to HOLD from BUY given a more fair risk/reward dynamic as in light of: 1) recently strong price performance; 2) valuation nearing the top end of the 10-year range; 3) historically unfavorable trading patterns during the middle of the year; and 4) current estimates that we believe accurately reflect the potential of 2013 product initiatives,” said KeyBanc analysts.
Mattel shares were inactive during pre-market trading on Friday. The stock is up +18.19% year-to-date.
The Bottom Line
Shares of Mattel (MAT) have a dividend yield of 3.33% based on last night’s closing price of $43.28 and the company’s annualized dividend payout of $1.44 per share.
Mattel, Inc. (MAT) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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