$294.35 Million in Sales Expected for JAKKS Pacific, Inc. (JAKK) This Quarter
Brokerages forecast that JAKKS Pacific, Inc. (NASDAQ:JAKK) will announce sales of $294.35 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for JAKKS Pacific’s earnings. The highest sales estimate is $298.65 million and the lowest is $287.70 million. JAKKS Pacific posted sales of $302.79 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.8%. The firm is expected to report its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that JAKKS Pacific will report full year sales of $294.35 million for the current financial year, with estimates ranging from $673.80 million to $678.76 million. For the next financial year, analysts anticipate that the company will report sales of $687.21 million per share, with estimates ranging from $681.20 million to $693.22 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for JAKKS Pacific.
JAKKS Pacific (NASDAQ:JAKK) last posted its earnings results on Tuesday, July 25th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.21) by $0.45. JAKKS Pacific had a negative net margin of 1.76% and a negative return on equity of 7.07%. The business had revenue of $119.57 million during the quarter, compared to analyst estimates of $134.02 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year.
Several research firms recently issued reports on JAKK. DA Davidson reiterated a “neutral” rating and set a $5.00 price target on shares of JAKKS Pacific in a research report on Tuesday, May 23rd. Jefferies Group LLC began coverage on shares of JAKKS Pacific in a research report on Thursday, June 8th. They set a “hold” rating and a $4.50 price target on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $5.50 price target on shares of JAKKS Pacific in a research report on Monday, July 10th. BMO Capital Markets reiterated a “hold” rating and set a $6.00 price target on shares of JAKKS Pacific in a research report on Thursday, July 13th. Finally, Zacks Investment Research lowered shares of JAKKS Pacific from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Eight analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $5.46.
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In related news, CEO Stephen G. Berman bought 10,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $3.40 per share, for a total transaction of $34,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of JAKKS Pacific by 273.2% in the second quarter. Goldman Sachs Group Inc. now owns 91,550 shares of the company’s stock worth $366,000 after buying an additional 67,020 shares in the last quarter. Stifel Financial Corp raised its position in shares of JAKKS Pacific by 12.7% in the second quarter. Stifel Financial Corp now owns 32,005 shares of the company’s stock worth $129,000 after buying an additional 3,604 shares during the period. California Public Employees Retirement System raised its position in shares of JAKKS Pacific by 0.6% in the second quarter. California Public Employees Retirement System now owns 218,868 shares of the company’s stock worth $875,000 after buying an additional 1,400 shares during the period. KBC Group NV raised its position in shares of JAKKS Pacific by 5.5% in the second quarter. KBC Group NV now owns 63,199 shares of the company’s stock worth $253,000 after buying an additional 3,304 shares during the period. Finally, LMR Partners LLP acquired a new position in shares of JAKKS Pacific during the second quarter worth approximately $194,000. Hedge funds and other institutional investors own 56.04% of the company’s stock.
Shares of JAKKS Pacific (NASDAQ JAKK) opened at 3.40 on Thursday. The company has a 50-day moving average price of $3.54 and a 200 day moving average price of $4.50. The firm’s market capitalization is $77.42 million. JAKKS Pacific has a 52-week low of $3.05 and a 52-week high of $9.75.
About JAKKS Pacific
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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