Last week, I looked at toy maker, Hasbro (NYSE: HAS). Today, we turn to toy maker Mattel (NYSE: MAT), which is being recommended by Jocelynn Drake.
The analyst with Schaeffer's Investment Research notes, "Mattel skipped into the earnings spotlight; second-quarter net income jumped 15.2% to $43.5 million, or 11 cents per share, with sales for the 3-month period up 6.5% to $1.02 billion."
Revenue for the second quarter, she notes, was boosted by favorable exchange rates and sales growth for the firm's Barbie and Hot Wheels toys, which rose 6% and 20%, respectively.
She explains, "Heading into the earnings report, investors were extremely skeptical of the shares. Schaeffer's put/call open interest ratio has risen to 0.77, which is higher than 84% of all those taken during the past 52 weeks."
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