Zacks: Brokerages Expect Funko, Inc. (NASDAQ:FNKO) Will Announce Quarterly Sales of $204.77 Million

Equities research analysts expect that Funko, Inc. (NASDAQ:FNKO) will announce sales of $204.77 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Funko’s earnings. The lowest sales estimate is $184.50 million and the highest is $213.70 million. Funko posted sales of $98.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 108.7%. The company is scheduled to issue its next earnings report on Thursday, August 5th.

On average, analysts expect that Funko will report full-year sales of $884.97 million for the current year, with estimates ranging from $875.80 million to $898.30 million. For the next financial year, analysts expect that the firm will report sales of $971.14 million, with estimates ranging from $939.60 million to $1.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Funko.

Funko (NASDAQ:FNKO) last released its earnings results on Thursday, May 6th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.20. The firm had revenue of $189.20 million during the quarter, compared to the consensus estimate of $179.52 million. Funko had a net margin of 2.07% and a return on equity of 8.22%. Funko’s quarterly revenue was up 38.4% compared to the same quarter last year.

FNKO has been the topic of a number of recent research reports. Truist Securities upped their price target on shares of Funko from $18.00 to $25.00 in a research note on Friday, May 7th. The Goldman Sachs Group upped their price target on shares of Funko from $15.30 to $16.90 and gave the company a “neutral” rating in a research note on Friday, May 7th. Piper Sandler upped their price target on shares of Funko from $15.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, March 12th. JPMorgan Chase & Co. upped their price target on shares of Funko from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, April 19th. Finally, BMO Capital Markets upgraded shares of Funko from an “underperform” rating to a “market perform” rating and upped their price target for the company from $5.00 to $16.00 in a research note on Wednesday, March 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $22.59.

In other news, CEO Brian Richard Mariotti sold 87,020 shares of the stock in a transaction on Monday, June 7th. The shares were sold at an average price of $23.70, for a total value of $2,062,374.00. Following the transaction, the chief executive officer now owns 131,806 shares of the company’s stock, valued at approximately $3,123,802.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Andrew Mark Perlmutter sold 56,250 shares of the stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $18.12, for a total transaction of $1,019,250.00. The disclosure for this sale can be found here. Insiders sold a total of 447,335 shares of company stock worth $10,528,366 over the last quarter. Corporate insiders own 14.79% of the company’s stock.

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Funko by 21.0% during the 4th quarter. Victory Capital Management Inc. now owns 79,350 shares of the company’s stock valued at $824,000 after purchasing an additional 13,757 shares during the last quarter. First Sabrepoint Capital Management LP bought a new position in shares of Funko during the 4th quarter valued at $4,671,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Funko during the 4th quarter valued at $308,000. Voloridge Investment Management LLC bought a new position in shares of Funko during the 4th quarter valued at $510,000. Finally, Citigroup Inc. grew its holdings in shares of Funko by 260.3% during the 4th quarter. Citigroup Inc. now owns 4,936 shares of the company’s stock valued at $51,000 after purchasing an additional 3,566 shares during the last quarter. 61.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FNKO stock traded down $0.17 during trading on Thursday, reaching $23.23. 545,600 shares of the company’s stock traded hands, compared to its average volume of 1,792,222. The company has a market capitalization of $1.16 billion, a P/E ratio of 61.13, a P/E/G ratio of 0.96 and a beta of 2.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.93 and a quick ratio of 1.48. The stock has a 50-day moving average price of $23.02. Funko has a 1 year low of $4.72 and a 1 year high of $27.20.

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 offers vinyl, blind-packed miniature, and action figures; plush products; accessories; apparels, such as t-shirts and hats; homewares, including drinkware, party lights and other home accessories, such as keychains, pens, and pins; and bags, purses and wallets, and board games.

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Earnings History and Estimates for Funko (NASDAQ:FNKO)

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