Jefferies Financial Group Comments on Conn’s Inc’s FY2020 Earnings (NASDAQ:CONN)

Conn’s Inc (NASDAQ:CONN) – Analysts at Jefferies Financial Group cut their FY2020 earnings per share (EPS) estimates for Conn’s in a research note issued on Wednesday, December 11th. Jefferies Financial Group analyst K. Joseph now forecasts that the specialty retailer will post earnings of $2.09 per share for the year, down from their prior forecast of $2.74. Jefferies Financial Group also issued estimates for Conn’s’ Q4 2020 earnings at $0.28 EPS, Q1 2021 earnings at $0.49 EPS, Q2 2021 earnings at $0.51 EPS, Q4 2021 earnings at $0.70 EPS and FY2021 earnings at $2.17 EPS.

CONN has been the topic of several other reports. BidaskClub downgraded Conn’s from a “sell” rating to a “strong sell” rating in a report on Saturday, December 7th. Compass Point reaffirmed a “neutral” rating and set a $23.50 target price (down from $30.00) on shares of Conn’s in a report on Tuesday. Stifel Nicolaus downgraded Conn’s from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $15.00 in a report on Wednesday. Stephens cut their target price on Conn’s from $33.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, KeyCorp set a $41.00 target price on Conn’s and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three analysts have 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 company has a consensus rating of “Hold” and a consensus target price of $25.50.

Shares of CONN opened at $13.18 on Friday. The company has a market capitalization of $378.81 million, a PE ratio of 5.25, a PEG ratio of 0.21 and a beta of 2.03. Conn’s has a 12 month low of $13.03 and a 12 month high of $27.57. The stock’s 50-day moving average price is $22.02 and its two-hundred day moving average price is $21.16. The company has a current ratio of 4.92, a quick ratio of 3.97 and a debt-to-equity ratio of 2.04.

Conn’s (NASDAQ:CONN) last announced its earnings results on Tuesday, December 10th. The specialty retailer reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The firm had revenue of $377.70 million for the quarter, compared to the consensus estimate of $394.29 million. Conn’s had a return on equity of 13.89% and a net margin of 5.37%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS.

In other Conn’s news, VP Todd Renaud sold 3,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $24.67, for a total transaction of $74,010.00. Following the sale, the vice president now owns 35,141 shares in the company, valued at $866,928.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.68% of the company’s stock.

Large investors have recently bought and sold shares of the business. Tyers Asset Management LLC increased its holdings in shares of Conn’s by 229.5% in the second quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock worth $57,000 after purchasing an additional 2,240 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Conn’s by 218.2% in the second quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock worth $62,000 after purchasing an additional 2,400 shares during the period. Elkfork Partners LLC increased its holdings in shares of Conn’s by 229.5% in the second quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock worth $79,000 after purchasing an additional 3,080 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of Conn’s by 229.5% in the second quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock worth $100,000 after purchasing an additional 3,920 shares during the period. Finally, Aperio Group LLC bought a new position in shares of Conn’s in the second quarter worth $115,000. Hedge funds and other institutional investors own 72.45% of the company’s stock.

About Conn’s

Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through two segments, Retail and Credit. The company's stores offer furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.

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

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