Home Financial Mattel Stock Continues Slide after the Company Forecasts Flat 2019

Mattel Stock Continues Slide after the Company Forecasts Flat 2019

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Mattel stock prices continued to fall Monday after the company said at the New York Toy Fair on Friday that it expected 2019 sales to be flat when adjusted for currency. It also said a decline in toy brands like American Girl could affect the performance.

The company forecast of $350 – $400 million in adjusted earnings for 2019 was well below analysts’ expectations of $550 million.

Mattel shares suffered their worst trading day in twenty years on Friday due to the announcement, and to the up tick in the stock price the previous week when the company announced strong sales results for the 4th quarter of 2018.