KeyCorp Research Analysts Decrease Earnings Estimates for Conn’s, Inc. (CONN)
Conn’s, Inc. (NASDAQ:CONN) – Stock analysts at KeyCorp cut their Q3 2018 earnings per share (EPS) estimates for shares of Conn’s in a research report issued to clients and investors on Tuesday. KeyCorp analyst B. Thomas now forecasts that the specialty retailer will post earnings of ($0.02) per share for the quarter, down from their previous forecast of $0.05. KeyCorp has a “Overweight” rating and a $42.00 price target on the stock. KeyCorp also issued estimates for Conn’s’ FY2018 earnings at $0.50 EPS and FY2020 earnings at $2.80 EPS.
Conn’s (NASDAQ:CONN) last released its earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.28. The firm had revenue of $366.65 million during the quarter, compared to the consensus estimate of $371.97 million. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. WARNING: “KeyCorp Research Analysts Decrease Earnings Estimates for Conn’s, Inc. (CONN)” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/10/20/keycorp-research-analysts-decrease-earnings-estimates-for-conns-inc-conn.html.
Other equities research analysts have also issued research reports about the company. BidaskClub lowered Conn’s from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. 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 research note on Tuesday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $26.00 price objective (up previously from $20.00) on shares of Conn’s in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. raised Conn’s from a “market perform” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, September 29th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $33.00 price objective on shares of Conn’s in a research note on Thursday. 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 stock. Conn’s has a consensus rating of “Buy” and an average price target of $33.33.
Conn’s (CONN) traded down 1.60% during mid-day trading on Friday, hitting $27.60. The stock had a trading volume of 594,060 shares. The firm’s 50-day moving average is $24.15 and its 200 day moving average is $19.39. Conn’s has a 12 month low of $7.75 and a 12 month high of $28.75. The company’s market cap is $861.29 million.
A number of hedge funds have recently modified their holdings of CONN. American International Group Inc. lifted its stake in Conn’s by 7.1% during the first 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 purchased a new position in shares of Conn’s in the second quarter worth about $114,000. Voya Investment Management LLC purchased a new position in shares of Conn’s in the second quarter worth about $215,000. GSA Capital Partners LLP purchased a new position in shares of Conn’s in the second quarter worth about $258,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Conn’s by 2.5% in the second quarter. Wells Fargo & Company MN now owns 16,192 shares of the specialty retailer’s stock worth $310,000 after buying an additional 400 shares during the period. 70.97% of the stock is owned by hedge funds and other institutional investors.
In other news, major shareholder Harriet C. Stephens purchased 23,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was purchased at an average price of $25.50 per share, with a total value of $586,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Harriet C. Stephens purchased 42,000 shares of the company’s stock in a transaction on Friday, October 13th. The shares were purchased at an average cost of $25.40 per share, with a total value of $1,066,800.00. The disclosure for this purchase can be found here. Insiders own 3.48% 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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