Equities research analysts expect that Conifer Holdings Inc (NASDAQ:CNFR) will announce $24.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Conifer’s earnings, with the highest sales estimate coming in at $24.50 million and the lowest estimate coming in at $23.69 million. Conifer reported sales of $18.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.2%. The business is expected to report its next quarterly earnings results on Wednesday, November 14th.
On average, analysts expect that Conifer will report full year sales of $97.73 million for the current financial year, with estimates ranging from $96.97 million to $98.50 million. For the next financial year, analysts forecast that the company will post sales of $97.14 million per share, with estimates ranging from $95.08 million to $99.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Conifer.
Conifer (NASDAQ:CNFR) last released its quarterly earnings results on Wednesday, August 8th. The insurance provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The firm had revenue of $25.27 million during the quarter, compared to analyst estimates of $23.33 million. Conifer had a negative return on equity of 33.42% and a negative net margin of 20.48%.
A number of equities research analysts recently weighed in on CNFR shares. ValuEngine upgraded Conifer from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. Raymond James cut Conifer from an “outperform” rating to a “market perform” rating in a report on Thursday, July 12th. Finally, Zacks Investment Research cut Conifer from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.42.
In related news, President Brian J. Roney bought 10,000 shares of Conifer stock in a transaction that occurred on Tuesday, September 11th. The shares were purchased at an average price of $6.07 per share, with a total value of $60,700.00. Following the purchase, the president now owns 313,602 shares in the company, valued at $1,903,564.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 52.50% of the company’s stock.
A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC boosted its stake in Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 457,842 shares of the insurance provider’s stock after buying an additional 11,569 shares during the quarter. Northpointe Capital LLC owned approximately 5.37% of Conifer worth $2,884,000 as of its most recent filing with the SEC. 26.20% of the stock is owned by institutional investors.
CNFR opened at $5.70 on Friday. The company has a market capitalization of $49.42 million, a P/E ratio of -2.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.47 and a current ratio of 0.47. Conifer has a 1-year low of $5.00 and a 1-year high of $7.20.
Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.
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