Needham & Company Maintains a 'Buy' on JAKKS Pacific (JAKK); 2Q Positive Sales Surprise Offset By Higher Royalties
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Price: $25.70 --0%
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Needham & Company maintains a 'Buy' on JAKKS Pacific (NASDAQ: JAKK) price target of $22.00.
Analyst, Sean McGowan, said, "JAKK’s 2Q sales were better-than-expected, but EPS were disappointing due to several factors. Sales rose 10.2% to $145.4 mm vs.
$131.9 mm; we expected $140 mm vs. consensus of $136.5 mm. EPS were $0.01 ($0.16 in 2011) but included $0.05/share in advisory expense related to fending off activist shareholders - a process we believe will likely continue to impact earnings. JAKK announced that $2mm of the $4mm settlement payment expected from THQ was deferred into 3Q and 4Q, which cut 2Q EPS by $0.06. Management said that Monsuno’s domestic and international debuts have met the company’s performance expectations to date and sales are growing "rapidly." Our channel checks suggest the product has achieved modest success." (FY12 EPS estimate cut from $1.10 to $1.05, but raises FY14 from $1.35 to $1.40)
For an analyst ratings summary and ratings history on JAKKS Pacific click here. For more ratings news on JAKKS Pacific click here.
Shares of JAKKS Pacific closed at $15.91 yesterday.
Analyst, Sean McGowan, said, "JAKK’s 2Q sales were better-than-expected, but EPS were disappointing due to several factors. Sales rose 10.2% to $145.4 mm vs.
$131.9 mm; we expected $140 mm vs. consensus of $136.5 mm. EPS were $0.01 ($0.16 in 2011) but included $0.05/share in advisory expense related to fending off activist shareholders - a process we believe will likely continue to impact earnings. JAKK announced that $2mm of the $4mm settlement payment expected from THQ was deferred into 3Q and 4Q, which cut 2Q EPS by $0.06. Management said that Monsuno’s domestic and international debuts have met the company’s performance expectations to date and sales are growing "rapidly." Our channel checks suggest the product has achieved modest success." (FY12 EPS estimate cut from $1.10 to $1.05, but raises FY14 from $1.35 to $1.40)
For an analyst ratings summary and ratings history on JAKKS Pacific click here. For more ratings news on JAKKS Pacific click here.
Shares of JAKKS Pacific closed at $15.91 yesterday.
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