Conn’s Inc (NASDAQ:CONN) – Analysts at KeyCorp cut their FY2019 EPS estimates for Conn’s in a note issued to investors on Tuesday, December 4th. KeyCorp analyst B. Thomas now anticipates that the specialty retailer will earn $2.28 per share for the year, down from their prior estimate of $2.52. KeyCorp also issued estimates for Conn’s’ Q4 2019 earnings at $0.74 EPS.
Several other analysts have also issued reports on the company. BidaskClub lowered Conn’s from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Compass Point restated a “hold” rating and issued a $38.50 price objective on shares of Conn’s in a research note on Friday, August 17th. Zacks Investment Research lowered Conn’s from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine lowered Conn’s from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, Stephens dropped their price objective on Conn’s to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.93.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Tuesday, December 4th. The specialty retailer reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. Conn’s had a return on equity of 12.17% and a net margin of 3.09%. The firm had revenue of $373.80 million during the quarter, compared to analysts’ expectations of $383.59 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of Conn’s during the second quarter worth approximately $1,590,000. Millennium Management LLC increased its stake in shares of Conn’s by 485.0% during the second quarter. Millennium Management LLC now owns 664,210 shares of the specialty retailer’s stock worth $21,919,000 after purchasing an additional 550,663 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Conn’s by 11.6% during the second quarter. Russell Investments Group Ltd. now owns 573,881 shares of the specialty retailer’s stock worth $18,934,000 after purchasing an additional 59,467 shares during the period. Yorktown Management & Research Co Inc increased its stake in shares of Conn’s by 144.5% during the second quarter. Yorktown Management & Research Co Inc now owns 20,905 shares of the specialty retailer’s stock worth $690,000 after purchasing an additional 12,355 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Conn’s during the second quarter worth approximately $962,000. Institutional investors own 68.54% of the company’s stock.
Conn’s Company Profile
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.
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