Zacks: Brokerages Expect Funko Inc (FNKO) to Post $0.23 EPS

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Wall Street brokerages forecast that Funko Inc (NASDAQ:FNKO) will report earnings of $0.23 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Funko’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.25. The company is expected to issue its next quarterly earnings report on Thursday, November 8th.

On average, analysts expect that Funko will report full-year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.64 to $0.76. For the next year, analysts anticipate that the firm will report earnings of $0.91 per share, with EPS estimates ranging from $0.80 to $1.06. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Funko.

Funko (NASDAQ:FNKO) last announced its earnings results on Thursday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Funko had a return on equity of 9.68% and a net margin of 2.70%. The business had revenue of $138.70 million during the quarter, compared to analyst estimates of $122.54 million. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year.

Several brokerages have issued reports on FNKO. Zacks Investment Research upgraded Funko from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, July 4th. Piper Jaffray Companies set a $18.00 target price on Funko and gave the company a “buy” rating in a research report on Thursday, July 19th. Stifel Nicolaus boosted their target price on Funko from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. JPMorgan Chase & Co. boosted their target price on Funko from $14.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Finally, Jefferies Financial Group set a $20.00 target price on Funko and gave the company a “buy” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Funko currently has an average rating of “Buy” and a consensus target price of $18.72.

Shares of NASDAQ:FNKO traded down $0.10 during trading hours on Friday, hitting $18.22. 393,460 shares of the company’s stock traded hands, compared to its average volume of 502,688. Funko has a 1 year low of $5.81 and a 1 year high of $31.12. The firm has a market capitalization of $919.53 million and a PE ratio of 60.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.55 and a quick ratio of 1.03.

In related news, insider Tracy D. Daw sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $20.36, for a total value of $203,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Andrew Mark Perlmutter sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $20.02, for a total value of $1,101,100.00. The disclosure for this sale can be found here. 18.39% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Funko by 51.9% in the second quarter. Bank of America Corp DE now owns 9,799 shares of the company’s stock valued at $123,000 after purchasing an additional 3,348 shares during the period. First Republic Investment Management Inc. purchased a new stake in shares of Funko in the second quarter valued at approximately $138,000. Element Capital Management LLC purchased a new stake in shares of Funko in the first quarter valued at approximately $104,000. Inverness Counsel LLC NY purchased a new stake in shares of Funko in the second quarter valued at approximately $176,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Funko in the second quarter valued at approximately $176,000. Hedge funds and other institutional investors own 37.57% of the company’s stock.

Funko Company Profile

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, bobble head, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

Further Reading: Leveraged Buyout (LBO) Explained

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Earnings History and Estimates for Funko (NASDAQ:FNKO)

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