Wall Street analysts forecast that Conn's Inc (NASDAQ:CONN) will announce $428.68 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Conn's’ earnings. The highest sales estimate is $429.90 million and the lowest is $427.41 million. Conn's posted sales of $432.81 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, April 3rd.
On average, analysts expect that Conn's will report full-year sales of $428.68 million for the current fiscal year, with estimates ranging from $1.52 billion to $1.53 billion. For the next financial year, analysts anticipate that the company will report sales of $1.60 billion per share, with estimates ranging from $1.59 billion to $1.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Conn's.
A number of research analysts have recently issued reports on CONN shares. BidaskClub cut Conn's from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Oppenheimer reissued a “buy” rating and issued a $40.00 target price on shares of Conn's in a research note on Thursday, December 7th. ValuEngine raised Conn's from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised Conn's from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, December 12th. Finally, Stephens raised their target price on Conn's from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $37.50.
In related news, major shareholder Anchorage Capital Group, L.L.C sold 1,600,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $34.05, for a total value of $54,480,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.48% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CONN. Russell Investments Group Ltd. boosted its position in Conn's by 269.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 426,473 shares of the specialty retailer’s stock valued at $12,005,000 after acquiring an additional 311,178 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Conn's during the 4th quarter valued at approximately $9,452,000. Prudential Financial Inc. bought a new stake in Conn's during the 3rd quarter valued at approximately $6,050,000. State Street Corp boosted its position in Conn's by 45.9% during the 2nd quarter. State Street Corp now owns 566,793 shares of the specialty retailer’s stock valued at $10,828,000 after acquiring an additional 178,277 shares in the last quarter. Finally, Castleark Management LLC bought a new stake in Conn's during the 4th quarter valued at approximately $6,175,000. 69.40% of the stock is currently owned by institutional investors and hedge funds.
Conn's Company Profile
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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