Zacks: Analysts Expect Conifer Holdings, Inc. (CNFR) Will Announce Earnings of -$0.20 Per Share
Brokerages expect Conifer Holdings, Inc. (NASDAQ:CNFR) to announce earnings of ($0.20) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Conifer Holdings’ earnings. Conifer Holdings also reported earnings of ($0.20) per share in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Conifer Holdings will report full-year earnings of ($0.60) per share for the current fiscal year. For the next year, analysts anticipate that the business will report earnings of $0.40 per share, with EPS estimates ranging from $0.30 to $0.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Conifer Holdings.
Conifer Holdings (NASDAQ:CNFR) last released its earnings results on Wednesday, August 9th. The insurance provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.31). Conifer Holdings had a negative return on equity of 14.14% and a negative net margin of 8.65%. The firm had revenue of $26.28 million for the quarter, compared to the consensus estimate of $24.98 million.
A number of equities research analysts have weighed in on CNFR shares. Zacks Investment Research raised Conifer Holdings from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Boenning Scattergood started coverage on Conifer Holdings in a report on Wednesday, August 16th. They set a “neutral” rating on the stock.
In related news, Chairman James G. Petcoff acquired 216,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were bought at an average cost of $6.25 per share, with a total value of $1,350,000.00. Following the completion of the acquisition, the chairman now owns 258,057 shares of the company’s stock, valued at $1,612,856.25. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Brian J. Roney acquired 16,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the president now directly owns 301,920 shares of the company’s stock, valued at approximately $1,887,000. The disclosure for this purchase can be found here. Insiders have acquired 260,000 shares of company stock worth $1,625,000 over the last ninety days. Company insiders own 45.50% of the company’s stock.
A hedge fund recently raised its stake in Conifer Holdings stock. Northpointe Capital LLC raised its stake in shares of Conifer Holdings, Inc. (NASDAQ:CNFR) by 22.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,190 shares of the insurance provider’s stock after purchasing an additional 58,484 shares during the quarter. Northpointe Capital LLC owned 4.14% of Conifer Holdings worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission. 28.92% of the stock is owned by institutional investors and hedge funds.
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Conifer Holdings (CNFR) traded down 2.11% on Monday, reaching $6.95. The company’s stock had a trading volume of 1,372 shares. The stock’s 50 day moving average is $6.59 and its 200-day moving average is $6.59. Conifer Holdings has a 52 week low of $6.00 and a 52 week high of $8.44. The firm’s market capitalization is $53.05 million.
About Conifer Holdings
Conifer Holdings, Inc is an insurance holding company. Through its insurance company subsidiaries, the Company offers insurance coverage in both specialty commercial and specialty personal product lines. It operates through two segments: commercial lines and personal lines. It is engaged in underwriting and marketing insurance coverage, and administering claims processing for such policies.
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