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.
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.
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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