Jakks Pacific Inc Up 27.2% To $21.70 After Earnings Beat

Jakks Pacific Inc (JAKK) said after close Wednesday that it earned $4.75 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $309.7 million, beating estimates by $26.4 million.

In the same quarter a year ago, the company earned $3.8 per share on revenue of $323 million.

The stock is up 27.2% to $21.70 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Jakks Pacific Inc has performed a little above average during the past few months. Before the report, Jakks Pacific Inc received a Long-Term Technical Rank by InvestorsObserver of 53, putting it in the top half of stocks. The firm set a 52-week high on May 23, 2023 at $24.61 and set a 52-week low on March 13, 2023 at $13.67.

Jakks Pacific Inc is a multi-brand toy company that designs, produces, markets, and distributes toys and related products, consumables, and related products, electronics and related products, kids' indoor and outdoor furniture, and other consumer products. Its products offering include Traditional toys and electronics such as Action figures, Toy vehicles, Dolls and accessories, Ride-on toys, Toys for pets, and others. The brands under which these products are sold include Road Champs, Spy Net, Fisher-Price, Kawasaki, JAKKS Pets, Disney Frozen, Black & Decker, Spiderman, Toy Story, Sesame Street, among others. The company's segments are Toys/Consumer Products and Costumes. of which a majority of revenue is derived from the Toy/Consumer products segment.