Wall Street brokerages expect Conn’s Inc (NASDAQ:CONN) to post sales of $393.59 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Conn’s’ earnings. The lowest sales estimate is $390.19 million and the highest is $397.20 million. Conn’s posted sales of $373.82 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The firm is expected to announce its next quarterly earnings results on Tuesday, December 3rd.
On average, analysts expect that Conn’s will report full year sales of $1.61 billion for the current financial year. For the next fiscal year, analysts forecast that the company will post sales of $1.72 billion, with estimates ranging from $1.69 billion to $1.78 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Conn’s.
Conn’s (NASDAQ:CONN) last announced its earnings results on Tuesday, September 3rd. The specialty retailer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. The business had revenue of $401.10 million for the quarter, compared to the consensus estimate of $398.10 million. Conn’s had a net margin of 5.35% and a return on equity of 14.27%. Conn’s’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share.
A number of brokerages recently weighed in on CONN. Zacks Investment Research raised shares of Conn’s from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price target (up from $28.00) on shares of Conn’s in a research note on Tuesday, September 3rd. BidaskClub raised shares of Conn’s from a “buy” rating to a “strong-buy” rating in a research note on Thursday. ValuEngine raised shares of Conn’s from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, KeyCorp set a $41.00 price target on shares of Conn’s and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $33.50.
Several hedge funds have recently bought and sold shares of CONN. Tyers Asset Management LLC raised its stake in shares of Conn’s by 229.5% during the second quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock worth $57,000 after acquiring an additional 2,240 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Conn’s by 218.2% during the second quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,400 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of Conn’s by 229.5% during the second quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock worth $79,000 after acquiring an additional 3,080 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Conn’s by 229.5% during the second quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock worth $100,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Aperio Group LLC purchased a new position in shares of Conn’s during the second quarter worth approximately $115,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.
CONN traded down $0.29 on Friday, reaching $26.42. The company had a trading volume of 304,573 shares, compared to its average volume of 557,011. The business has a 50 day simple moving average of $20.78 and a 200 day simple moving average of $21.48. The company has a market cap of $776.69 million, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.42 and a beta of 2.19. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.97 and a current ratio of 5.01. Conn’s has a 52-week low of $15.40 and a 52-week high of $37.70.
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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