Wall Street brokerages expect Conn’s, Inc. (NASDAQ:CONN) to announce sales of $327.16 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Conn’s’ earnings. The lowest sales estimate is $322.50 million and the highest is $331.82 million. Conn’s reported sales of $317.16 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The business is scheduled to announce its next earnings results on Tuesday, June 8th.
According to Zacks, analysts expect that Conn’s will report full-year sales of $1.46 billion for the current year, with estimates ranging from $1.46 billion to $1.47 billion. For the next year, analysts forecast that the business will report sales of $1.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Conn’s.
Conn’s (NASDAQ:CONN) last issued its earnings results on Tuesday, March 30th. The specialty retailer reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.67. The company had revenue of $367.80 million during the quarter, compared to analysts’ expectations of $373.10 million. Conn’s had a negative return on equity of 3.61% and a negative net margin of 1.62%. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS.
NASDAQ CONN opened at $20.90 on Friday. The stock has a market cap of $613.58 million, a PE ratio of -25.18 and a beta of 2.59. The company has a current ratio of 4.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.51. Conn’s has a twelve month low of $5.27 and a twelve month high of $23.94. The stock has a fifty day simple moving average of $20.03 and a 200-day simple moving average of $14.84.
In related news, major shareholder Curtis F. Bradbury, Jr. sold 20,000 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $20.82, for a total transaction of $416,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas H. Martin sold 2,841 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $22.38, for a total value of $63,581.58. The disclosure for this sale can be found here. Corporate insiders own 5.14% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CONN. Pacer Advisors Inc. lifted its stake in Conn’s by 67.4% during the 4th quarter. Pacer Advisors Inc. now owns 89,742 shares of the specialty retailer’s stock worth $1,049,000 after acquiring an additional 36,123 shares in the last quarter. SG Americas Securities LLC raised its position in Conn’s by 60.7% in the 4th quarter. SG Americas Securities LLC now owns 24,395 shares of the specialty retailer’s stock valued at $285,000 after purchasing an additional 9,216 shares in the last quarter. Panagora Asset Management Inc. raised its position in Conn’s by 8.3% in the 4th quarter. Panagora Asset Management Inc. now owns 60,059 shares of the specialty retailer’s stock valued at $702,000 after purchasing an additional 4,609 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in Conn’s by 17.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 23,050 shares of the specialty retailer’s stock valued at $269,000 after purchasing an additional 3,440 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Conn’s by 14.3% in the 4th quarter. Rhumbline Advisers now owns 66,158 shares of the specialty retailer’s stock valued at $773,000 after purchasing an additional 8,268 shares in the last quarter. 53.42% of the stock is currently owned by hedge funds and other institutional investors.
Conn’s Company Profile
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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