Conn's Inc (NASDAQ:CONN) – Analysts at SunTrust Banks lowered their Q2 2018 earnings estimates for Conn's in a research note issued on Tuesday. SunTrust Banks analyst D. Magee now forecasts that the specialty retailer will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.05. SunTrust Banks also issued estimates for Conn's’ Q3 2018 earnings at $0.12 EPS and Q4 2018 earnings at $0.32 EPS.
Other research analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Conn's in a report on Wednesday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Conn's in a report on Tuesday. ValuEngine upgraded Conn's from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. KeyCorp upgraded Conn's from a “sector weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Tuesday, April 25th. Finally, Zacks Investment Research downgraded Conn's from a “hold” rating to a “strong sell” rating in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.67.
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Shares of Conn's (CONN) opened at 19.20 on Friday. Conn's has a one year low of $6.54 and a one year high of $19.95. The firm has a 50-day moving average price of $16.87 and a 200 day moving average price of $12.49. The firm’s market cap is $594.37 million. Conn's also was the target of some unusual options trading on Wednesday. Stock traders bought 4,829 call options on the company. This represents an increase of approximately 696% compared to the average volume of 607 call options.
Conn's (NASDAQ:CONN) last issued its quarterly earnings results on Tuesday, June 6th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.17. The business had revenue of $355.80 million during the quarter, compared to the consensus estimate of $357.53 million. Conn's had a negative return on equity of 0.06% and a negative net margin of 0.02%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.31) earnings per share.
In other news, Director Douglas H. Martin purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were purchased at an average price of $17.83 per share, for a total transaction of $178,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Daly purchased 7,400 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The shares were purchased at an average price of $13.52 per share, for a total transaction of $100,048.00. Following the purchase, the insider now directly owns 26,652 shares in the company, valued at $360,335.04. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in Conn's by 7.1% in the first quarter. American International Group Inc. now owns 12,501 shares of the specialty retailer’s stock worth $109,000 after buying an additional 830 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Conn's by 839.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,138 shares of the specialty retailer’s stock worth $204,000 after buying an additional 14,421 shares in the last quarter. Ellington Management Group LLC purchased a new position in Conn's during the fourth quarter worth about $311,000. American Assets Investment Management LLC increased its position in Conn's by 33.3% in the first quarter. American Assets Investment Management LLC now owns 40,000 shares of the specialty retailer’s stock worth $350,000 after buying an additional 10,000 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in Conn's by 66.7% in the first quarter. Hodges Capital Management Inc. now owns 50,000 shares of the specialty retailer’s stock worth $437,000 after buying an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 59.77% of the company’s stock.
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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