Boenning Scattergood Analysts Reduce Earnings Estimates for Conifer Holdings Inc (CNFR)

Conifer Holdings Inc (NASDAQ:CNFR) – Equities research analysts at Boenning Scattergood cut their Q1 2019 earnings per share (EPS) estimates for Conifer in a note issued to investors on Monday, November 12th. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will earn $0.02 per share for the quarter, down from their previous estimate of $0.05. Boenning Scattergood currently has a “Buy” rating and a $7.00 price objective on the stock. Boenning Scattergood also issued estimates for Conifer’s Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.09 EPS, FY2019 earnings at $0.30 EPS, Q1 2020 earnings at $0.11 EPS, Q2 2020 earnings at $0.15 EPS, Q3 2020 earnings at $0.17 EPS and FY2020 earnings at $0.60 EPS.

Conifer (NASDAQ:CNFR) last released its quarterly earnings data on Thursday, November 8th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.16). The business had revenue of $24.77 million for the quarter, compared to analyst estimates of $24.14 million. Conifer had a positive return on equity of 1.21% and a negative net margin of 4.17%.

A number of other analysts have also recently issued reports on CNFR. Zacks Investment Research cut Conifer from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th. ValuEngine cut Conifer from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. TheStreet cut Conifer from a “c-” rating to a “d” rating in a research report on Wednesday, October 31st. Finally, Raymond James reissued a “buy” rating on shares of Conifer in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.42.

Shares of NASDAQ CNFR opened at $5.54 on Wednesday. The stock has a market capitalization of $48.17 million, a P/E ratio of -1.91 and a beta of 0.79. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.64. Conifer has a 52-week low of $5.00 and a 52-week high of $7.20.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC lifted its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457,842 shares of the insurance provider’s stock after buying an additional 11,569 shares during the period. Northpointe Capital LLC owned about 5.37% of Conifer worth $2,884,000 at the end of the most recent reporting period. 25.61% of the stock is owned by institutional investors and hedge funds.

In related news, President Brian J. Roney acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was bought at an average cost of $6.07 per share, with a total value of $60,700.00. Following the transaction, the president now owns 313,602 shares of the company’s stock, valued at $1,903,564.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 52.50% of the stock is currently owned by company insiders.

About Conifer

Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.

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Earnings History and Estimates for Conifer (NASDAQ:CNFR)

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