PREVIEW: Mattel rises heading into report as investors eye entertainment strategy
Mattel MAT.O shares rising 3.2% to $22.24 on Tues ahead of qtrly results due after the bell, with focus on co's entertainment strategy following the "Barbie" movie success
MAT climbing as rival toy maker Hasbro's HAS.O shares jumping >7% on the session after it posted Q4 rev beat, and announced $1 bln stock buyback
Mattel expected to report 12% rise in Q4 rev to $1.84 bln and adj EPS of $0.54 vs $0.35 a year ago, per LSEG
Results follow last week's announcement that Apple TV will debut a movie based on its Matchbox car brand, part of Mattel's broader push into brand-driven entertainment
MAT, now up ~12% YTD vs a flat Nasdaq .IXIC, hit a 52-week intraday high of $22.48 on Tues
Shares recently traded at 12x forward earnings, just below their 5-yr avg of 14x
Of 15 analysts covering MAT, 9 rate "strong buy" or "buy", 6 rate "hold"; median PT $25
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