Conn’s, Inc. (NASDAQ:CONN) Expected to Announce Quarterly Sales of $371.91 Million
Equities research analysts expect Conn’s, Inc. (NASDAQ:CONN) to announce $371.91 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Conn’s’ earnings, with estimates ranging from $366.77 million to $378.10 million. Conn’s reported sales of $398.16 million in the same quarter last year, which would suggest a negative year over year growth rate of 6.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, September 14th.
According to Zacks, analysts expect that Conn’s will report full-year sales of $371.91 million for the current financial year, with estimates ranging from $1.49 billion to $1.54 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.55 billion per share, with estimates ranging from $1.48 billion to $1.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Conn’s.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings data on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.17. The company had revenue of $355.80 million for the quarter, compared to analysts’ expectations of $357.53 million. Conn’s had a negative net margin of 1.18% and a negative return on equity of 0.72%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) EPS.
Several analysts have weighed in on CONN shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Conn’s in a report on Friday, April 21st. Zacks Investment Research raised Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, July 11th. ValuEngine raised Conn’s from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. KeyCorp raised Conn’s from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Tuesday, April 25th. Finally, BidaskClub raised Conn’s from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Conn’s has a consensus rating of “Buy” and a consensus price target of $22.50.
In other Conn’s news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was acquired at an average cost of $18.85 per share, for a total transaction of $226,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Douglas H. Martin acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was acquired at an average price of $17.83 per share, with a total value of $178,300.00. The disclosure for this purchase can be found here. Corporate insiders own 3.48% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. American International Group Inc. raised its position in shares of Conn’s by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 830 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of Conn’s during the second quarter valued at about $114,000. Metropolitan Life Insurance Co. NY raised its position in shares of Conn’s by 839.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,138 shares of the specialty retailer’s stock valued at $204,000 after buying an additional 14,421 shares in the last quarter. American Assets Investment Management LLC raised its position in shares of Conn’s by 33.3% in the first quarter. American Assets Investment Management LLC now owns 40,000 shares of the specialty retailer’s stock valued at $350,000 after buying an additional 10,000 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Conn’s during the second quarter valued at about $393,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
Conn’s (NASDAQ:CONN) opened at 22.60 on Tuesday. The stock has a 50 day moving average of $19.51 and a 200 day moving average of $14.28. Conn’s has a 52 week low of $6.54 and a 52 week high of $23.75. The firm’s market cap is $700.89 million.
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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