$371.91 Million in Sales Expected for Conn’s, Inc. (CONN) This Quarter

Analysts expect Conn’s, Inc. (NASDAQ:CONN) to report $371.91 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Conn’s’ earnings, with the lowest sales estimate coming in at $366.77 million and the highest estimate coming in at $378.10 million. Conn’s reported sales of $398.16 million during the same quarter last year, which indicates a negative year over year growth rate of 6.6%. The firm is scheduled to announce its next earnings report on Thursday, September 14th.

According to Zacks, analysts expect that Conn’s will report full-year sales of $371.91 million for the current fiscal year, with estimates ranging from $1.49 billion to $1.54 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.55 billion per share, with estimates ranging from $1.48 billion to $1.61 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Conn’s.

Conn’s (NASDAQ:CONN) last posted its earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.17. The company had revenue of $355.80 million during the quarter, compared to analyst estimates of $357.53 million. Conn’s had a negative return on equity of 0.72% and a negative net margin of 1.18%. Conn’s’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) earnings per share.

CONN has been the subject of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price target (up previously from $19.00) on shares of Conn’s in a research note on Wednesday, June 7th. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Conn’s in a research note on Tuesday, June 20th. ValuEngine upgraded shares of Conn’s from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, KeyCorp upgraded shares of Conn’s from a “sector weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.50.

ILLEGAL ACTIVITY WARNING: “$371.91 Million in Sales Expected for Conn’s, Inc. (CONN) This Quarter” was originally posted by BNB Daily and is owned by of BNB Daily. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.baseball-news-blog.com/2017/08/19/371-91-million-in-sales-expected-for-conns-inc-conn-this-quarter-updated.html.

Shares of Conn’s (NASDAQ CONN) opened at 22.60 on Tuesday. The stock’s market cap is $700.89 million. Conn’s has a 12-month low of $6.54 and a 12-month high of $23.75. The firm’s 50-day moving average price is $19.51 and its 200-day moving average price is $14.28.

In other news, major shareholder W. R. Jr. Stephens acquired 12,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was acquired at an average cost of $18.85 per share, with a total value of $226,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Douglas H. Martin acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average cost of $17.83 per share, with a total value of $178,300.00. The disclosure for this purchase can be found here. Insiders own 3.48% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CONN. American International Group Inc. boosted its stake in Conn’s by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 830 shares during the period. ClariVest Asset Management LLC purchased a new stake in Conn’s during the second quarter valued at about $114,000. Metropolitan Life Insurance Co. NY boosted its stake in Conn’s by 839.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,138 shares of the specialty retailer’s stock valued at $204,000 after buying an additional 14,421 shares during the period. American Assets Investment Management LLC boosted its stake in Conn’s by 33.3% in the first quarter. American Assets Investment Management LLC now owns 40,000 shares of the specialty retailer’s stock valued at $350,000 after buying an additional 10,000 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new stake in Conn’s during the second quarter valued at about $393,000. 62.58% of the stock is owned by institutional investors and hedge funds.

About Conn’s

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.

Get a free copy of the Zacks research report on Conn’s (CONN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Conn`s (NASDAQ:CONN)

Receive News & Ratings for Conn's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conn's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply