Funko (NASDAQ:FNKO) Releases Q3 Earnings Guidance

Funko (NASDAQ:FNKO) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.01-$0.06 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

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

Funko Stock Performance

NASDAQ FNKO traded up $0.98 during mid-day trading on Friday, reaching $9.62. 1,359,066 shares of the stock were exchanged, compared to its average volume of 542,611. The company has a market capitalization of $515.62 million, a P/E ratio of -3.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.87. The business’s 50 day moving average is $9.51 and its 200-day moving average is $7.83. Funko has a 1 year low of $5.27 and a 1 year high of $10.53.

Funko (NASDAQ:FNKO) last posted its earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.10. Funko had a negative return on equity of 16.76% and a negative net margin of 11.46%. The firm had revenue of $215.70 million for the quarter, compared to analysts’ expectations of $218.26 million. On average, equities research analysts forecast that Funko will post -0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Andrew David Oddie sold 9,603 shares of Funko stock in a transaction on Monday, May 13th. The shares were sold at an average price of $7.42, for a total value of $71,254.26. Following the sale, the insider now owns 73,781 shares of the company’s stock, valued at approximately $547,455.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Working Capital Advisors (Uk) sold 2,000,000 shares of Funko stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.90, for a total value of $17,800,000.00. Following the sale, the insider now directly owns 5,129,838 shares in the company, valued at approximately $45,655,558.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew David Oddie sold 9,603 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $7.42, for a total value of $71,254.26. Following the transaction, the insider now directly owns 73,781 shares of the company’s stock, valued at approximately $547,455.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,064,307 shares of company stock worth $18,393,730. 4.81% of the stock is owned by corporate insiders.

About Funko

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.