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Mattel (MAT) Unveils New Toy-Line With Paramount Tie-Up
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Mattel, Inc.’s (MAT - Free Report) Masters of the Universe brand recently announced a collaboration with Paramount's Teenage Mutant Ninja Turtles to develop The Masters of the Universe Origins Turtles of Grayskull toy line. Following the announcement, shares of the company moved up 4.2% during trading hours on Oct 17.
The crossover toy line comprises action figures with Eternian-style battle gear and Turtle-inspired Armor. It also showcases some of the iconic characters from both worlds, including Leonardo and Raphael, Donatello, Michelangelo and He-Man.
The collaboration paves a path for enhanced storytelling capabilities and opportunities to capture young and old followers' interest. The company is optimistic concerning the collaboration and anticipates launching the products in January 2024.
Focus On Key Brands
Mattel’s focus on licensed brands and lucrative product associations bode well. The return of Disney Princess and Frozen to Mattel’s portfolio has driven the company’s second-quarter results and is consistently building momentum along with Monster High. Also, the company’s launch of various toys and products related to the Barbie movie has created demand in the market, being sold out across significant distribution channels from release to date. The company continues expanding its franchise brands with new launches of creative products like Hot Wheels Racerverse, a new character-driven play system.
Price Performance
Image Source: Zacks Investment Research
Shares of the company have gained 20% so far this year compared with the industry’s 8.6% growth. The outperformance was primarily attributed to product innovation, marketing partnerships, promotional initiatives and digital efforts. The company’s initiative to capture the total value of its IPs and transform itself into a high-performing toy company bodes well. The company intends to focus on new content and digital engagement to drive growth. Meanwhile, earnings estimates for 2023 have increased in the past 30 days, depicting analysts' optimism regarding the stock growth potential.
Live Nation Entertainment, Inc. (LYV - Free Report) sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 34.6% on average. Shares of LYV have increased by 6.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 21.6% and 59.4%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) sports a Zacks Rank #1. OSW has a trailing four-quarter earnings surprise of 42.6% on average. Shares of OSW have increased by 23.7% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 44.5% and 117.9%, respectively, from the year-ago period’s levels.
Choice Hotels International, Inc. (CHH - Free Report) carries a Zacks Rank #2 (Buy). CHH has a trailing four-quarter earnings surprise of 3.1% on average. Shares of the company have declined 6.1% in the past year.
The Zacks Consensus Estimate for CHH’s 2023 sales and EPS indicates a rise of 10.8% and 13.9%, respectively, from the year-ago period’s levels.
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Mattel (MAT) Unveils New Toy-Line With Paramount Tie-Up
Mattel, Inc.’s (MAT - Free Report) Masters of the Universe brand recently announced a collaboration with Paramount's Teenage Mutant Ninja Turtles to develop The Masters of the Universe Origins Turtles of Grayskull toy line. Following the announcement, shares of the company moved up 4.2% during trading hours on Oct 17.
The crossover toy line comprises action figures with Eternian-style battle gear and Turtle-inspired Armor. It also showcases some of the iconic characters from both worlds, including Leonardo and Raphael, Donatello, Michelangelo and He-Man.
The collaboration paves a path for enhanced storytelling capabilities and opportunities to capture young and old followers' interest. The company is optimistic concerning the collaboration and anticipates launching the products in January 2024.
Focus On Key Brands
Mattel’s focus on licensed brands and lucrative product associations bode well. The return of Disney Princess and Frozen to Mattel’s portfolio has driven the company’s second-quarter results and is consistently building momentum along with Monster High. Also, the company’s launch of various toys and products related to the Barbie movie has created demand in the market, being sold out across significant distribution channels from release to date. The company continues expanding its franchise brands with new launches of creative products like Hot Wheels Racerverse, a new character-driven play system.
Price Performance
Image Source: Zacks Investment Research
Shares of the company have gained 20% so far this year compared with the industry’s 8.6% growth. The outperformance was primarily attributed to product innovation, marketing partnerships, promotional initiatives and digital efforts. The company’s initiative to capture the total value of its IPs and transform itself into a high-performing toy company bodes well. The company intends to focus on new content and digital engagement to drive growth. Meanwhile, earnings estimates for 2023 have increased in the past 30 days, depicting analysts' optimism regarding the stock growth potential.
Zacks Rank & Key Picks
Mattel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Live Nation Entertainment, Inc. (LYV - Free Report) sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 34.6% on average. Shares of LYV have increased by 6.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 21.6% and 59.4%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) sports a Zacks Rank #1. OSW has a trailing four-quarter earnings surprise of 42.6% on average. Shares of OSW have increased by 23.7% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 44.5% and 117.9%, respectively, from the year-ago period’s levels.
Choice Hotels International, Inc. (CHH - Free Report) carries a Zacks Rank #2 (Buy). CHH has a trailing four-quarter earnings surprise of 3.1% on average. Shares of the company have declined 6.1% in the past year.
The Zacks Consensus Estimate for CHH’s 2023 sales and EPS indicates a rise of 10.8% and 13.9%, respectively, from the year-ago period’s levels.