Mattel Inc. ( MAT ) beat recently beat expectations, which sent estimates and share price higher. Company Description Mattel makes toys and other family products. Brands include the iconic Barbie, Hot Wheels, Fisher-Price and many others. Toped Estimates Mattel released fourth-quarter results on Jan 29 that showed earnings per share of 89 cents. This topped the Zacks Consensus Estimate by 13 cents and was well above the 49 cents earned one year ago. Sales great 1% to $1.96 billion, but Mattel also saw a favorable currency impact. Double-Digit Growth Analysts started revising their estimates right after there report, driving the full-year Zacks Consensus for 2010 to $1.62, from $1.53. Next year's projections now average $1.79, up 10 cents. If Mattel reaches these forecasts year-over-year earnings growth will be 18% and 10%, respectively. Valuations Mattel is trading with decent valuations right now. The earnings are coming cheap, with a forward P/E of less than 13 times. However, the PEG is 1.5 times, making the growth a bit on the expensive side. The Chart Shares off MAT have gone on to set a new 52-week high since the earnings release. The MACD also produced a buy signal for some momentum-based traders. Take a look at the chart below. Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service Zacks Investment Research