B. Riley Weighs in on Jakks Pacific Inc.’s Q3 2016 Earnings (JAKK)
Jakks Pacific Inc. (NASDAQ:JAKK) – Equities research analysts at B. Riley lowered their Q3 2016 EPS estimates for shares of Jakks Pacific in a report released on Monday. B. Riley analyst L. Weiser now expects that the brokerage will post earnings per share of $1.09 for the quarter, down from their prior forecast of $1.30. B. Riley currently has a “Neutral” rating and a $10.00 price target on the stock.
Separately, Zacks Investment Research raised Jakks Pacific from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.58.
Jakks Pacific (NASDAQ:JAKK) opened at 8.30 on Tuesday. The company has a 50-day moving average price of $8.88 and a 200-day moving average price of $8.18. Jakks Pacific has a 52 week low of $6.17 and a 52 week high of $9.75. The stock has a market cap of $134.06 million, a price-to-earnings ratio of 15.84 and a beta of 0.55.
Jakks Pacific (NASDAQ:JAKK) last issued its earnings results on Wednesday, July 20th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.04. The company earned $141 million during the quarter, compared to analyst estimates of $134.80 million. Jakks Pacific had a return on equity of 10.42% and a net margin of 2.00%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS.
Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of Jakks Pacific by 105.5% in the second quarter. Acrospire Investment Management LLC now owns 16,976 shares of the company’s stock worth $134,000 after buying an additional 8,714 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Jakks Pacific during the first quarter worth approximately $141,000. Highbridge Capital Management LLC purchased a new position in shares of Jakks Pacific during the second quarter worth approximately $162,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Jakks Pacific during the second quarter worth approximately $200,000. Finally, Stifel Financial Corp increased its position in shares of Jakks Pacific by 1.6% in the second quarter. Stifel Financial Corp now owns 25,401 shares of the company’s stock worth $201,000 after buying an additional 400 shares during the last quarter.
In other Jakks Pacific news, major shareholder Patrick Soon-Shiong sold 133,619 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $8.82, for a total value of $1,178,519.58. Following the completion of the transaction, the insider now owns 239,622 shares in the company, valued at $2,113,466.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by company insiders.
Jakks Pacific Company Profile
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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