Funko (NASDAQ:FNKO) Updates FY 2021 Earnings Guidance

Funko (NASDAQ:FNKO) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.200-$1.310 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.150. The company issued revenue guidance of $950 million-$975 million, compared to the consensus revenue estimate of $922.08 million.

Shares of FNKO stock traded down $0.49 during trading on Thursday, reaching $17.51. 422,111 shares of the company’s stock traded hands, compared to its average volume of 1,175,476. The company has a market capitalization of $888.14 million, a P/E ratio of 17.00, a PEG ratio of 0.41 and a beta of 2.27. The company has a current ratio of 1.69, a quick ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $18.12 and its 200 day moving average is $19.89. Funko has a 1 year low of $8.30 and a 1 year high of $27.20.

Funko (NASDAQ:FNKO) last announced its quarterly earnings results on Thursday, November 4th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.12. Funko had a net margin of 4.47% and a return on equity of 17.56%. The company had revenue of $267.70 million for the quarter, compared to analysts’ expectations of $240.74 million. During the same period in the prior year, the company posted $0.26 EPS. Funko’s revenue was up 40.0% compared to the same quarter last year. As a group, sell-side analysts predict that Funko will post 1.06 earnings per share for the current fiscal year.

FNKO has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Funko from a hold rating to a buy rating and increased their target price for the stock from $21.00 to $25.00 in a research note on Tuesday, August 31st. Zacks Investment Research upgraded shares of Funko from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Monday, November 15th. Finally, DA Davidson increased their target price on shares of Funko from $32.00 to $34.00 and gave the stock a buy rating in a research note on Monday, November 8th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $22.81.

In related news, Director Kenneth R. Brotman sold 59,867 shares of the stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $20.28, for a total transaction of $1,214,102.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian Richard Mariotti sold 24,728 shares of the stock in a transaction on Monday, November 8th. The shares were sold at an average price of $19.87, for a total transaction of $491,345.36. The disclosure for this sale can be found here. Insiders sold a total of 208,051 shares of company stock worth $4,094,797 in the last three months. Insiders own 14.79% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FNKO. Wells Fargo & Company MN boosted its position in Funko by 262.0% during the 2nd quarter. Wells Fargo & Company MN now owns 60,317 shares of the company’s stock valued at $1,284,000 after buying an additional 43,656 shares during the period. Morgan Stanley boosted its position in Funko by 160.8% during the 2nd quarter. Morgan Stanley now owns 286,044 shares of the company’s stock valued at $6,087,000 after buying an additional 176,358 shares during the period. Invesco Ltd. boosted its position in Funko by 11.4% during the 3rd quarter. Invesco Ltd. now owns 61,733 shares of the company’s stock valued at $1,124,000 after buying an additional 6,337 shares during the period. Royal Bank of Canada boosted its position in Funko by 9.9% during the 3rd quarter. Royal Bank of Canada now owns 11,555 shares of the company’s stock valued at $211,000 after buying an additional 1,037 shares during the period. Finally, UBS Group AG boosted its position in Funko by 38.5% during the 3rd quarter. UBS Group AG now owns 68,068 shares of the company’s stock valued at $1,240,000 after buying an additional 18,922 shares during the period. 67.81% of the stock is owned by institutional investors and hedge funds.

About Funko

Funko, Inc engages in designing, sourcing and distribution of licensed pop culture products. Its product lines include media and entertainment content, which comprises movies, TV shows, video games, music and sports. The company was founded in 1998 and is headquartered in Everett, WA.

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Earnings History and Estimates for Funko (NASDAQ:FNKO)

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