Funko (NASDAQ:FNKO) Releases Q2 2024 Earnings Guidance

Funko (NASDAQ:FNKO) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.150–0.080 for the period, compared to the consensus estimate of -0.210. The company issued revenue guidance of $225.0 million-$240.0 million, compared to the consensus revenue estimate of $230.2 million. Funko also updated its FY 2024 guidance to EPS.

Analyst Ratings Changes

Separately, B. Riley began coverage on Funko in a research report on Wednesday, April 10th. They issued a buy rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $8.92.

Funko Stock Performance

NASDAQ:FNKO traded up $0.20 on Thursday, hitting $6.82. The stock had a trading volume of 507,025 shares, compared to its average volume of 451,827. The business’s 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $6.88. The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 0.55. Funko has a 52-week low of $5.27 and a 52-week high of $13.42. The stock has a market cap of $361.93 million, a price-to-earnings ratio of -2.11 and a beta of 1.05.

Funko (NASDAQ:FNKO) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Funko had a negative return on equity of 20.78% and a negative net margin of 14.06%. The firm had revenue of $291.24 million for the quarter, compared to the consensus estimate of $284.90 million. As a group, research analysts predict that Funko will post -0.34 earnings per share for the current year.

Insider Transactions at Funko

In other news, insider Tracy D. Daw sold 4,808 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.45, for a total value of $31,011.60. Following the transaction, the insider now owns 51,170 shares of the company’s stock, valued at $330,046.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Tracy D. Daw sold 4,808 shares of Funko stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.45, for a total transaction of $31,011.60. Following the sale, the insider now owns 51,170 shares of the company’s stock, valued at approximately $330,046.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steve Nave sold 6,352 shares of Funko stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $7.08, for a total value of $44,972.16. Following the sale, the chief financial officer now directly owns 65,883 shares in the company, valued at approximately $466,451.64. The disclosure for this sale can be found here. Insiders have sold 34,972 shares of company stock valued at $223,485 over the last quarter. 4.81% of the stock is currently owned by company 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.