Conn’s Inc (CONN) Forecasted to Earn FY2019 Earnings of $2.44 Per Share
Conn’s Inc (NASDAQ:CONN) – Analysts at Oppenheimer upped their FY2019 earnings estimates for shares of Conn’s in a report issued on Tuesday, December 4th. Oppenheimer analyst B. Nagel now expects that the specialty retailer will post earnings per share of $2.44 for the year, up from their previous forecast of $2.27. Oppenheimer also issued estimates for Conn’s’ FY2020 earnings at $2.92 EPS and FY2021 earnings at $3.30 EPS.
Several other research analysts have also issued reports on CONN. Stephens decreased their price target on shares of Conn’s to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday. Zacks Investment Research lowered shares of Conn’s from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut shares of Conn’s from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. BidaskClub cut shares of Conn’s from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Finally, Compass Point reiterated a “hold” rating and set a $38.50 price objective on shares of Conn’s in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.93.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Tuesday, December 4th. The specialty retailer reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $373.80 million for the quarter, compared to analyst estimates of $383.59 million. Conn’s had a net margin of 3.09% and a return on equity of 12.36%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share.
Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in shares of Conn’s by 24,061.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,141 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 3,128 shares during the period. Point72 Hong Kong Ltd boosted its stake in shares of Conn’s by 213.5% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,483 shares of the specialty retailer’s stock valued at $123,000 after buying an additional 2,372 shares during the period. NumerixS Investment Technologies Inc boosted its stake in shares of Conn’s by 1,900.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 4,000 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 3,800 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Conn’s in the 3rd quarter valued at $187,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Conn’s in the 3rd quarter valued at $216,000. 68.54% of the stock is owned by institutional investors.
In other Conn’s news, Director David Schofman sold 2,000 shares of Conn’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $36.50, for a total transaction of $73,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.34% of the company’s stock.
Conn’s Company Profile
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.
Further Reading: The Role of a Fiduciary and Individual Investors
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