Oppenheimer Comments on Conn’s’ Q2 2019 Earnings (CONN)
Conn’s (NASDAQ:CONN) – Oppenheimer raised their Q2 2019 earnings per share (EPS) estimates for shares of Conn’s in a note issued to investors on Monday, May 14th. Oppenheimer analyst B. Nagel now expects that the specialty retailer will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.40. Oppenheimer also issued estimates for Conn’s’ Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $1.98 EPS and FY2020 earnings at $2.54 EPS.
Conn’s (NASDAQ:CONN) last announced its earnings results on Thursday, April 5th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Conn’s had a return on equity of 5.72% and a net margin of 0.43%. The firm had revenue of $420.40 million for the quarter, compared to analyst estimates of $429.67 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue was down 2.9% on a year-over-year basis.
Shares of Conn’s opened at $26.20 on Wednesday, Marketbeat.com reports. Conn’s has a 1 year low of $25.85 and a 1 year high of $26.20. The company has a market cap of $817.53 million, a PE ratio of 27.58, a price-to-earnings-growth ratio of 0.50 and a beta of 1.72. The company has a debt-to-equity ratio of 2.04, a quick ratio of 5.29 and a current ratio of 6.58.
In other news, CAO George L. Bchara acquired 7,390 shares of the firm’s stock in a transaction on Tuesday, April 10th. The shares were bought at an average price of $27.41 per share, for a total transaction of $202,559.90. Following the acquisition, the chief accounting officer now owns 42,816 shares of the company’s stock, valued at approximately $1,173,586.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Daly acquired 5,100 shares of the firm’s stock in a transaction on Monday, April 9th. The stock was purchased at an average price of $27.87 per share, for a total transaction of $142,137.00. Following the acquisition, the insider now directly owns 55,206 shares in the company, valued at approximately $1,538,591.22. The disclosure for this purchase can be found here. Company insiders own 3.34% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in Conn’s by 44.8% in the 1st quarter. Millennium Management LLC now owns 113,547 shares of the specialty retailer’s stock valued at $3,861,000 after purchasing an additional 35,128 shares in the last quarter. Guggenheim Capital LLC purchased a new position in Conn’s in the 1st quarter valued at $255,000. Millrace Asset Group Inc. purchased a new position in Conn’s in the 1st quarter valued at $1,394,000. A.R.T. Advisors LLC lifted its holdings in Conn’s by 72.9% in the 1st quarter. A.R.T. Advisors LLC now owns 26,400 shares of the specialty retailer’s stock valued at $897,000 after purchasing an additional 11,131 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Conn’s by 2.2% in the 1st quarter. UBS Group AG now owns 1,474,975 shares of the specialty retailer’s stock valued at $50,150,000 after purchasing an additional 31,532 shares in the last quarter. Institutional investors own 67.13% of the company’s stock.
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.
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