Zacks: Brokerages Anticipate Conn’s Inc (NASDAQ:CONN) to Post $0.56 EPS

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Wall Street brokerages expect that Conn’s Inc (NASDAQ:CONN) will post $0.56 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Conn’s’ earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.60. Conn’s posted earnings of $0.59 per share in the same quarter last year, which would suggest a negative year over year growth rate of 5.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, December 3rd.

According to Zacks, analysts expect that Conn’s will report full year earnings of $2.73 per share for the current fiscal year, with EPS estimates ranging from $2.58 to $2.82. For the next financial year, analysts forecast that the business will report earnings of $3.11 per share, with EPS estimates ranging from $3.00 to $3.20. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Conn’s.

Conn’s (NASDAQ:CONN) last released its quarterly earnings data on Tuesday, September 3rd. The specialty retailer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.51 by $0.11. Conn’s had a net margin of 5.35% and a return on equity of 14.27%. The business had revenue of $401.10 million for the quarter, compared to analyst estimates of $398.10 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year.

Several equities research analysts recently commented on the stock. ValuEngine lowered shares of Conn’s from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. BidaskClub lowered shares of Conn’s from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research upgraded shares of Conn’s from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, October 31st. KeyCorp set a $41.00 price objective on shares of Conn’s and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price objective (up from $28.00) on shares of Conn’s in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.40.

In related news, VP Todd Renaud sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $24.67, for a total value of $74,010.00. Following the completion of the transaction, the vice president now owns 35,141 shares of the company’s stock, valued at approximately $866,928.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Daly sold 8,700 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.00, for a total transaction of $234,900.00. Following the completion of the transaction, the insider now directly owns 47,482 shares of the company’s stock, valued at approximately $1,282,014. The disclosure for this sale can be found here. Insiders own 3.68% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Tyers Asset Management LLC raised its stake in Conn’s by 229.5% in the 2nd quarter. Tyers Asset Management LLC now owns 3,216 shares of the specialty retailer’s stock valued at $57,000 after purchasing an additional 2,240 shares during the last quarter. Riverhead Capital Management LLC raised its stake in Conn’s by 218.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,500 shares of the specialty retailer’s stock valued at $62,000 after purchasing an additional 2,400 shares during the last quarter. Elkfork Partners LLC raised its stake in Conn’s by 229.5% in the 2nd quarter. Elkfork Partners LLC now owns 4,422 shares of the specialty retailer’s stock valued at $79,000 after purchasing an additional 3,080 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Conn’s by 229.5% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 5,628 shares of the specialty retailer’s stock valued at $100,000 after purchasing an additional 3,920 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in Conn’s in the 2nd quarter valued at about $115,000. 73.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Conn’s stock traded down $0.78 on Thursday, hitting $21.27. The company’s stock had a trading volume of 371,800 shares, compared to its average volume of 531,100. Conn’s has a 52-week low of $15.40 and a 52-week high of $29.43. The company has a quick ratio of 3.97, a current ratio of 5.01 and a debt-to-equity ratio of 2.01. The firm has a fifty day moving average price of $24.47 and a 200-day moving average price of $21.63. The company has a market capitalization of $642.52 million, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.35 and a beta of 2.11.

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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