Zacks: Analysts Expect Conn’s, Inc. (CONN) to Announce $0.04 Earnings Per Share
Wall Street brokerages expect that Conn’s, Inc. (NASDAQ:CONN) will report earnings per share of $0.04 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Conn’s’ earnings, with estimates ranging from ($0.02) to $0.09. Conn’s reported earnings per share of ($0.08) in the same quarter last year, which would suggest a positive year over year growth rate of 150%. The company is expected to report its next earnings report on Tuesday, December 5th.
On average, analysts expect that Conn’s will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.70. For the next year, analysts anticipate that the company will post earnings of $1.65 per share, with EPS estimates ranging from $1.50 to $1.80. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Conn’s.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.28. The business had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. Conn’s had a positive return on equity of 1.08% and a negative net margin of 0.14%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS.
A number of brokerages have weighed in on CONN. Zacks Investment Research raised Conn’s from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Wednesday, September 13th. Stifel Nicolaus lowered Conn’s from a “buy” rating to a “hold” rating and boosted their price target for the stock from $26.00 to $30.00 in a research report on Monday, October 9th. SunTrust Banks, Inc. restated a “buy” rating and set a $33.00 target price on shares of Conn’s in a research note on Thursday, October 19th. Stephens restated an “overweight” rating and set a $28.00 target price (up from $25.00) on shares of Conn’s in a research note on Monday, July 17th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research note on Thursday, September 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $33.33.
Shares of Conn’s (NASDAQ:CONN) traded down $0.30 during mid-day trading on Wednesday, hitting $29.65. The company had a trading volume of 108,605 shares, compared to its average volume of 575,155. Conn’s has a 52-week low of $7.75 and a 52-week high of $32.90. The company has a debt-to-equity ratio of 2.02, a current ratio of 5.80 and a quick ratio of 4.70. The company has a market cap of $958.05, a price-to-earnings ratio of 170.56, a P/E/G ratio of 2.77 and a beta of 1.87.
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In other news, major shareholder Harriet C. Stephens purchased 42,000 shares of the stock in a transaction dated Friday, October 13th. The stock was acquired at an average cost of $25.40 per share, for a total transaction of $1,066,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Harriet C. Stephens acquired 23,000 shares of Conn’s stock in a transaction dated Monday, October 16th. The stock was bought at an average price of $25.50 per share, for a total transaction of $586,500.00. The disclosure for this purchase can be found here. 3.48% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in shares of Conn’s during the third quarter worth about $310,000. Quantbot Technologies LP grew its holdings in shares of Conn’s by 110.2% during the third quarter. Quantbot Technologies LP now owns 3,864 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,026 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Conn’s by 269.9% during the third quarter. Russell Investments Group Ltd. now owns 426,473 shares of the specialty retailer’s stock worth $12,005,000 after buying an additional 311,178 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Conn’s during the third quarter worth about $244,000. Finally, Prudential Financial Inc. purchased a new position in shares of Conn’s during the third quarter worth about $6,050,000. Institutional investors own 70.87% of the company’s stock.
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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