Equities Analysts Set Expectations for Conn’s, Inc.’s Q1 2019 Earnings (CONN)
Conn’s, Inc. (NASDAQ:CONN) – Equities research analysts at Oppenheimer Holdings issued their Q1 2019 EPS estimates for shares of Conn’s in a research report issued on Friday. Oppenheimer Holdings analyst B. Nagel anticipates that the specialty retailer will post earnings of $0.20 per share for the quarter. Oppenheimer Holdings has a “Buy” rating and a $40.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Conn’s’ Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.80 EPS, FY2020 earnings at $2.45 EPS and FY2021 earnings at $3.00 EPS.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.28. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. The business had revenue of $366.65 million for the quarter, compared to the consensus estimate of $371.97 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Conn’s’s revenue for the quarter was down 7.9% compared to the same quarter last year.
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CONN has been the subject of several other reports. Zacks Investment Research downgraded Conn’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub upgraded Conn’s from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price (up previously from $19.00) on shares of Conn’s in a research report on Wednesday, June 7th. UBS AG raised Conn’s from a “market perform” rating to an “outperform” rating in a research note on Friday, September 29th. Finally, Stephens reissued an “overweight” rating and set a $28.00 target price (up previously from $25.00) on shares of Conn’s in a research note on Monday, July 17th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Conn’s presently has an average rating of “Buy” and a consensus price target of $28.60.
Conn’s (CONN) traded down 0.54% during mid-day trading on Monday, reaching $27.45. The company had a trading volume of 453,999 shares. The stock’s market cap is $856.60 million. The firm’s 50-day moving average price is $21.49 and its 200-day moving average price is $17.97. Conn’s has a 12 month low of $7.75 and a 12 month high of $28.61.
A number of institutional investors and hedge funds have recently modified their holdings of CONN. Northpointe Capital LLC acquired a new position in Conn’s in the 2nd quarter valued at approximately $5,052,000. Acadian Asset Management LLC bought a new position in shares of Conn’s during the second quarter valued at $4,766,000. EAM Investors LLC bought a new position in shares of Conn’s during the second quarter valued at $4,168,000. Royce & Associates LP raised its stake in shares of Conn’s by 108.3% during the first quarter. Royce & Associates LP now owns 415,336 shares of the specialty retailer’s stock valued at $3,634,000 after acquiring an additional 215,900 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Conn’s by 45.9% during the second quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock valued at $10,828,000 after acquiring an additional 178,277 shares during the last quarter. 70.97% of the stock is owned by institutional investors and hedge funds.
In other news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were bought at an average price of $18.85 per share, with a total value of $226,200.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 3.48% of the stock is currently owned by corporate insiders.
Conn’s Company Profile
Conn’s, Inc is a specialty retailer that offers a selection of consumer goods and related services in addition to a credit solution for its core credit constrained consumers. The Company operates through two segments: retail and credit. The Retail segment includes product categories, such as furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom; home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges; Consumer electronics, including liquid-crystal-display (LED), organic LED (OLED), Ultra high definition (HD) and Internet-ready televisions, and home office, including computers, printers and accessories.
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