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Mattel (MAT) Boosts Games Portfolio With Crossed Signals

Mattel, Inc. MAT continues to create innovative products that are simple to understand and beloved by families. To this end, the company announced the launch of a fast-paced, electronic light and sound matching game — Crossed Signals. This marks the latest addition to the Mattel Games lineup, including UNO, Pictionary, Magic 8 Ball, Rock ‘Em Sock ‘Em Robots and more.

Staged for age group of 8 years and above, Crossed Signals offers physical-and-electronic play experience that challenges players to match light and voice commands using the joysticks before the timer runs out.

It also comes with four different gameplay variations namely — Light Pursuit, Speed Signals, Go-No-Go and Signal Showdown. This enables players to either opt for a solo round or multiple challenges using the built-in multiplayer mode and digital scorekeeping feature.

With respect to the launch, Ray Adler, vice president, Global Head of Games, Mattel, stated, “With more people seeking active and social gameplay options than ever before, Crossed Signals gets players up on their feet for an exciting and interactive challenge, perfect for indoor and outdoor game nights.”

Meanwhile, the company priced the product at $19.99 and stated its availability at Target stores and online platform. Going forward, the company intends to make it available globally in the fall season.

Price Performance

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Shares of Mattel have gained 11.5% so far this year against the industry’s 3.6% decline. The outperformance was primarily attributed to product innovation, marketing partnerships, promotional initiatives and digital efforts. Moreover, the company’s initiative to simplify its organization structure as well as optimize processes and supply chain to generate savings across operations bodes well. This along with focus on new content and digital engagement is likely to drive growth in the upcoming quarters. Nonetheless, earning estimates for 2021 have increased in the past 60 days, which reflects analysts’ optimism on the company’s growth prospect.

Zacks Rank & Other Key Picks

Mattel carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other top-ranked stocks in the Zacks Consumer Discretionary sector include OneWater Marine Inc. ONEW, Red Rock Resorts, Inc. RRR and Boyd Gaming Corporation BYD, each sporting a Zacks Rank #1.

OneWater Marine has a trailing four-quarter earnings surprise of 224.1%, on average.

2021 earnings for Red Rock Resorts are expected to surge 102.8%.

Boyd Gaming has a three-five-year earnings per share growth rate of 19.8%.

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Mattel, Inc. (MAT) : Free Stock Analysis Report

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