Conn’s Inc (NASDAQ:CONN) – Analysts at KeyCorp cut their FY2019 EPS estimates for Conn’s in a note issued to investors on Tuesday, December 4th. KeyCorp analyst B. Thomas now anticipates that the specialty retailer will earn $2.28 per share for the year, down from their prior estimate of $2.52. KeyCorp also issued estimates for Conn’s’ Q4 2019 earnings at $0.74 EPS.
Several other research analysts have also recently weighed in on CONN. Stephens decreased their price target on shares of Conn’s to $33.00 and set an “overweight” rating on the stock in a report on Wednesday. Zacks Investment Research cut shares of Conn’s from a “strong-buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut shares of Conn’s from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. BidaskClub cut shares of Conn’s from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Compass Point reaffirmed a “hold” rating and issued a $38.50 price target on shares of Conn’s in a report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.93.
Conn’s (NASDAQ:CONN) last released its quarterly earnings results on Tuesday, December 4th. The specialty retailer reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $373.80 million for the quarter, compared to analysts’ expectations of $383.59 million. Conn’s had a net margin of 3.09% and a return on equity of 12.17%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Conn’s by 6.9% in the second quarter. BlackRock Inc. now owns 1,470,515 shares of the specialty retailer’s stock worth $48,526,000 after acquiring an additional 94,710 shares in the last quarter. Vanguard Group Inc. grew its position in Conn’s by 5.8% in the third quarter. Vanguard Group Inc. now owns 1,443,047 shares of the specialty retailer’s stock worth $51,011,000 after acquiring an additional 78,920 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Conn’s by 87.4% during the third quarter. JPMorgan Chase & Co. now owns 879,797 shares of the specialty retailer’s stock valued at $31,100,000 after buying an additional 410,313 shares during the period. Millennium Management LLC boosted its position in Conn’s by 485.0% during the second quarter. Millennium Management LLC now owns 664,210 shares of the specialty retailer’s stock valued at $21,919,000 after buying an additional 550,663 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Conn’s by 2.1% during the third quarter. Russell Investments Group Ltd. now owns 585,824 shares of the specialty retailer’s stock valued at $20,701,000 after buying an additional 11,943 shares during the period. Institutional investors own 68.54% of the company’s stock.
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.
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