JAKKS Pacific soars on surprise profit in Q2

JAKKS Pacific

28/07/2022 16:07

** Toy maker JAKKS Pacific Inc's shares  JAKK.O  surges as
much as 53.7% to hit a near four-year high of $26.25; now up 34%
    ** Co late Wednesday reported Q2 adj profit of $2.10 per
share, compared to analysts' estimate of adj loss of 53 cents
per share - Refinitiv IBES data
    ** "During the quarter we continued to see solid consumer
demand across most of our major toy businesses, especially with
Disney's Encanto and Sega's Sonic the Hedgehog - CEO Stephen
Berman
    ** Brokerage BMO raises PT by $7 to $28 
    ** More than 800,000 shares traded, nearly 12 times their
25-day moving avg
    ** Including session's gain, stock up ~126% YTD

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))