Follow-up: Mattel Reports a Strong Quarter
In mid-November I wrote up a short piece stating that shares of Mattel were getting interesting now that their price had fallen so much because I believed that the Chinese quality problems were overblown and that the company has been reporting strong global growth. http://caps.fool.com/Blogs/ViewPost.aspx?bpid=22907&t=01001019292467236494.
At the time I stated that I was not ready to buy yet. I'm glad that I never did because Mattel's stock has fallen from $21.19 on that date to its current $18.94, a drop of over 10%. The Company reported its quarterly results today and they look great. For the quarter, Mattel reported EPS of $0.89, versus $0.75 per share during the same period last year and analysts' estimate of $0.73. This represents nearly 19% growth from a company that has a P/E ratio of 13.4, pretty good.
I continue to be extremely interested in domestic companies that have strong export business because I believe that the dollar will continue to weaken to their benefit.
No position in MAT