Brokerages expect Funko Inc (NASDAQ:FNKO) to post $219.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Funko’s earnings, with the highest sales estimate coming in at $223.80 million and the lowest estimate coming in at $216.03 million. Funko posted sales of $176.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24%. The company is scheduled to announce its next earnings report after the market closes on Thursday, October 31st.
According to Zacks, analysts expect that Funko will report full year sales of $847.55 million for the current financial year, with estimates ranging from $845.00 million to $849.60 million. For the next financial year, analysts expect that the business will report sales of $950.89 million, with estimates ranging from $908.40 million to $976.63 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Funko.
Funko (NASDAQ:FNKO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.15. The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $170.69 million. Funko had a net margin of 2.00% and a return on equity of 17.18%. Funko’s revenue was up 37.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS.
Several brokerages have issued reports on FNKO. Bank of America boosted their price objective on shares of Funko from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets upped their price target on shares of Funko from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. ValuEngine raised shares of Funko from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. DA Davidson set a $32.00 price target on shares of Funko and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Zacks Investment Research cut shares of Funko from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Funko presently has an average rating of “Buy” and a consensus target price of $27.78.
FNKO traded up $0.29 during trading on Friday, hitting $17.88. The stock had a trading volume of 1,012,200 shares, compared to its average volume of 754,826. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 1.89. The firm has a market capitalization of $857.30 million, a P/E ratio of 26.29, a PEG ratio of 0.81 and a beta of 2.07. The company’s 50-day moving average price is $20.75 and its 200 day moving average price is $21.74. Funko has a twelve month low of $11.22 and a twelve month high of $27.89.
In related news, CEO Brian Richard Mariotti sold 50,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $17.59, for a total value of $879,500.00. Also, Director Adam M. Kriger sold 3,600,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.42, for a total transaction of $91,512,000.00. Over the last ninety days, insiders have sold 5,184,588 shares of company stock worth $129,263,651. Corporate insiders own 16.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Funko by 41.3% in the 2nd quarter. BlackRock Inc. now owns 1,051,073 shares of the company’s stock valued at $25,457,000 after acquiring an additional 307,444 shares during the last quarter. Prospect Capital Advisors LLC increased its position in Funko by 47.4% during the 2nd quarter. Prospect Capital Advisors LLC now owns 715,800 shares of the company’s stock worth $17,337,000 after purchasing an additional 230,050 shares in the last quarter. Vanguard Group Inc. increased its position in Funko by 27.3% during the 2nd quarter. Vanguard Group Inc. now owns 592,347 shares of the company’s stock worth $14,347,000 after purchasing an additional 126,886 shares in the last quarter. Van Berkom & Associates Inc. acquired a new stake in Funko during the 2nd quarter worth approximately $13,182,000. Finally, Bank of America Corp DE increased its position in Funko by 69.6% during the 2nd quarter. Bank of America Corp DE now owns 356,557 shares of the company’s stock worth $8,635,000 after purchasing an additional 146,293 shares in the last quarter. 50.77% of the stock is currently owned by hedge funds and other institutional investors.
Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom. The company offers vinyl, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.
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