Brokerages Expect Conn’s, Inc. (CONN) Will Announce Quarterly Sales of $351.32 Million
Equities research analysts predict that Conn’s, Inc. (NASDAQ:CONN) will announce sales of $351.32 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Conn’s’ earnings. The lowest sales estimate is $340.25 million and the highest is $364.72 million. Conn’s posted sales of $376.77 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, December 5th.
On average, analysts expect that Conn’s will report full-year sales of $351.32 million for the current fiscal year, with estimates ranging from $1.46 billion to $1.52 billion. For the next financial year, analysts forecast that the business will post sales of $1.51 billion per share, with estimates ranging from $1.41 billion to $1.55 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Conn’s.
Conn’s (NASDAQ:CONN) last posted its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $371.97 million. During the same period in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was down 7.9% on a year-over-year basis.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Conn’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 3rd. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Conn’s in a research note on Wednesday, June 7th. ValuEngine upgraded shares of Conn’s from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research note on Tuesday, June 20th. Finally, Stephens restated an “overweight” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Conn’s in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Conn’s currently has a consensus rating of “Buy” and an average target price of $25.75.
In other Conn’s news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was bought at an average price of $18.85 per share, for a total transaction of $226,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.48% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. American International Group Inc. grew its holdings in shares of Conn’s by 7.1% in the 1st quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 830 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in shares of Conn’s in the 2nd quarter worth about $114,000. Voya Investment Management LLC bought a new stake in shares of Conn’s in the 2nd quarter worth about $215,000. GSA Capital Partners LLP bought a new stake in shares of Conn’s in the 2nd quarter worth about $258,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Conn’s by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock worth $310,000 after purchasing an additional 400 shares during the last quarter. 71.41% of the stock is currently owned by institutional investors and hedge funds.
Conn’s (CONN) opened at 22.90 on Thursday. The firm’s market capitalization is $714.62 million. Conn’s has a 12-month low of $7.75 and a 12-month high of $24.10. The stock has a 50 day moving average of $20.53 and a 200 day moving average of $16.28.
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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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