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Jefferies Financial Group Brokers Cut Earnings Estimates for Funko, Inc. (NASDAQ:FNKO)


Funko, Inc. (NASDAQ:FNKOGet Rating) – Equities researchers at Jefferies Financial Group dropped their FY2023 earnings estimates for Funko in a note issued to investors on Thursday, January 12th. Jefferies Financial Group analyst A. Uerkwitz now anticipates that the company will earn $0.67 per share for the year, down from their previous estimate of $0.72. Jefferies Financial Group currently has a “Hold” rating and a $13.00 target price on the stock. The consensus estimate for Funko’s current full-year earnings is $0.56 per share. Jefferies Financial Group also issued estimates for Funko’s Q4 2023 earnings at $0.13 EPS.

Several other brokerages have also commented on FNKO. JPMorgan Chase & Co. lowered shares of Funko from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $16.00 in a research report on Friday, November 4th. The Goldman Sachs Group dropped their price objective on shares of Funko from $25.50 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, November 7th. DA Davidson dropped their price target on shares of Funko from $48.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Truist Financial cut shares of Funko from a “buy” rating to a “hold” rating and dropped their price target for the company from $26.00 to $13.00 in a research note on Friday, November 4th. Finally, Bank of America cut shares of Funko from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $9.00 in a research note on Monday, November 7th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Funko presently has an average rating of “Hold” and an average target price of $14.71.

Funko Stock Up 6.4 %

NASDAQ:FNKO opened at $12.07 on Friday. Funko has a fifty-two week low of $7.60 and a fifty-two week high of $27.79. The stock has a market capitalization of $609.26 million, a P/E ratio of 12.32, a P/E/G ratio of 1.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 1.38. The company’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $18.03.

Funko (NASDAQ:FNKOGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.23). Funko had a return on equity of 13.55% and a net margin of 3.46%. The company had revenue of $365.61 million during the quarter, compared to the consensus estimate of $317.16 million.

Hedge Funds Weigh In On Funko

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake in Funko by 221.3% in the first quarter. Lazard Asset Management LLC now owns 4,154 shares of the company’s stock valued at $71,000 after buying an additional 2,861 shares during the last quarter. Amalgamated Bank purchased a new position in Funko in the first quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Funko by 64.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,276 shares of the company’s stock worth $107,000 after acquiring an additional 2,061 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in Funko in the third quarter worth $112,000. Finally, Great West Life Assurance Co. Can raised its position in Funko by 457.7% in the third quarter. Great West Life Assurance Co. Can now owns 7,322 shares of the company’s stock worth $148,000 after acquiring an additional 6,009 shares in the last quarter. 59.78% of the stock is owned by institutional investors and hedge funds.

Funko Company Profile

(Get Rating)

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 vinyl, blind-packed miniature, and action figures; fashion accessories, including bags, backpacks, and wallets; apparel, such as t-shirts and hats; board games, plush products, and accessories, such as keychains, pens, and pins; homewares, comprising drinkware, and other home accessories, non-fungible tokens, and others.

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