FY2019 EPS Estimates for Conn’s, Inc. (CONN) Boosted by SunTrust Banks
Conn’s, Inc. (NASDAQ:CONN) – Research analysts at SunTrust Banks upped their FY2019 EPS estimates for shares of Conn’s in a report issued on Thursday. SunTrust Banks analyst D. Magee now forecasts that the specialty retailer will post earnings of $1.50 per share for the year, up from their previous estimate of $1.35. SunTrust Banks has a “Buy” rating and a $33.00 price target on the stock.
CONN has been the subject of a number of other reports. Zacks Investment Research downgraded Conn’s from a “strong-buy” rating to a “hold” rating in a report on Monday, July 3rd. Stifel Nicolaus downgraded Conn’s from a “buy” rating to a “hold” rating and increased their price objective for the company from $26.00 to $30.00 in a report on Monday, October 9th. BidaskClub upgraded Conn’s from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. UBS AG upgraded Conn’s from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Finally, Stephens reiterated an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of Conn’s in a report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Conn’s presently has an average rating of “Buy” and a consensus price target of $33.33.
Shares of Conn’s (NASDAQ:CONN) traded down 1.60% during midday trading on Friday, hitting $27.60. The company had a trading volume of 594,097 shares. Conn’s has a one year low of $7.75 and a one year high of $28.75. The stock’s 50-day moving average price is $24.15 and its 200-day moving average price is $19.39. The stock’s market capitalization is $861.29 million.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings data on Thursday, September 7th. The specialty retailer reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.28. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. The business had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year.
In other Conn’s news, major shareholder Harriet C. Stephens purchased 23,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $586,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Harriet C. Stephens purchased 42,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were acquired at an average price of $25.40 per share, with a total value of $1,066,800.00. The disclosure for this purchase can be found here. Company insiders own 3.48% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Conn’s during the 2nd quarter worth about $468,000. Sterling Capital Management LLC bought a new position in shares of Conn’s during the 2nd quarter worth about $868,000. Luzich Partners LLC boosted its position in shares of Conn’s by 3.8% during the 2nd quarter. Luzich Partners LLC now owns 305,822 shares of the specialty retailer’s stock worth $5,841,000 after purchasing an additional 11,210 shares in the last quarter. State Street Corp boosted its position in shares of Conn’s by 45.9% during the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock worth $10,828,000 after purchasing an additional 178,277 shares in the last quarter. Finally, PDT Partners LLC boosted its position in shares of Conn’s by 12.9% during the 2nd quarter. PDT Partners LLC now owns 92,200 shares of the specialty retailer’s stock worth $1,761,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
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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