Funko (NASDAQ:FNKO) Issues Q3 Earnings Guidance

Funko (NASDAQ:FNKO) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.01-$0.06 for the period, compared to the consensus estimate of $0.20. The company issued revenue guidance of $282-$297 million, compared to the consensus revenue estimate of $319.22 million. Funko also updated its FY 2024 guidance to EPS.

Funko Stock Up 11.3 %

FNKO stock traded up $0.98 during midday trading on Friday, hitting $9.62. 1,359,066 shares of the company’s stock were exchanged, compared to its average volume of 542,611. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $9.51 and a 200-day moving average price of $7.83. The stock has a market capitalization of $515.62 million, a price-to-earnings ratio of -3.83 and a beta of 1.18. Funko has a 12-month low of $5.27 and a 12-month high of $10.53.

Funko (NASDAQ:FNKO) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.10. The firm had revenue of $215.70 million during the quarter, compared to analyst estimates of $218.26 million. Funko had a negative return on equity of 16.76% and a negative net margin of 11.46%. On average, analysts anticipate that Funko will post -0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FNKO shares. DA Davidson reiterated a buy rating and set a $12.00 target price on shares of Funko in a research note on Friday. Stifel Nicolaus increased their price target on Funko from $8.00 to $9.00 and gave the stock a hold rating in a research report on Thursday, July 25th. Finally, B. Riley boosted their price objective on Funko from $10.00 to $11.00 and gave the company a buy rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $9.63.

Insiders Place Their Bets

In related news, insider Andrew David Oddie sold 16,719 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $10.09, for a total value of $168,694.71. Following the completion of the transaction, the insider now directly owns 40,372 shares of the company’s stock, valued at approximately $407,353.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrew David Oddie sold 16,719 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $10.09, for a total transaction of $168,694.71. Following the transaction, the insider now directly owns 40,372 shares of the company’s stock, valued at $407,353.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total transaction of $17,800,000.00. Following the completion of the sale, the insider now directly owns 5,129,838 shares of the company’s stock, valued at approximately $45,655,558.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,064,307 shares of company stock worth $18,393,730. Insiders own 4.81% 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, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.