Zacks: Brokerages Anticipate Conn’s Inc (CONN) Will Post Quarterly Sales of $366.68 Million

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Equities analysts forecast that Conn’s Inc (NASDAQ:CONN) will post sales of $366.68 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Conn’s’ earnings, with the highest sales estimate coming in at $369.95 million and the lowest estimate coming in at $363.46 million. Conn’s reported sales of $358.39 million during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings results on Thursday, June 6th.

According to Zacks, analysts expect that Conn’s will report full-year sales of $1.63 billion for the current year, with estimates ranging from $1.61 billion to $1.65 billion. For the next year, analysts forecast that the company will post sales of $1.74 billion, with estimates ranging from $1.72 billion to $1.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Conn’s.

Conn’s (NASDAQ:CONN) last announced its earnings results on Tuesday, March 26th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.20. The company had revenue of $432.98 million during the quarter, compared to analyst estimates of $437.95 million. Conn’s had a net margin of 4.76% and a return on equity of 13.97%. Conn’s’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share.

Several analysts have recently issued reports on CONN shares. Stifel Nicolaus reduced their price target on shares of Conn’s from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 22nd. BidaskClub raised Conn’s from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. Zacks Investment Research cut Conn’s from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. ValuEngine raised Conn’s from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, TheStreet raised Conn’s from a “c+” rating to a “b-” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $37.50.

CONN stock traded down $0.76 during mid-day trading on Friday, hitting $22.65. 7,367 shares of the company were exchanged, compared to its average volume of 550,944. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.27 and a quick ratio of 3.34. The firm has a market cap of $746.40 million, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.36 and a beta of 2.22. Conn’s has a 12-month low of $17.00 and a 12-month high of $42.65.

In related news, VP Todd Renaud sold 2,500 shares of Conn’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $25.01, for a total transaction of $62,525.00. Following the completion of the sale, the vice president now directly owns 38,538 shares of the company’s stock, valued at $963,835.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.68% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Conn’s by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 116,032 shares of the specialty retailer’s stock valued at $4,101,000 after purchasing an additional 9,331 shares during the period. JPMorgan Chase & Co. grew its holdings in Conn’s by 87.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 879,797 shares of the specialty retailer’s stock worth $31,100,000 after acquiring an additional 410,313 shares during the period. MetLife Investment Advisors LLC grew its stake in shares of Conn’s by 52.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 15,665 shares of the specialty retailer’s stock valued at $554,000 after buying an additional 5,376 shares during the period. Teachers Advisors LLC grew its stake in shares of Conn’s by 4.9% in the 3rd quarter. Teachers Advisors LLC now owns 42,560 shares of the specialty retailer’s stock valued at $1,504,000 after buying an additional 1,998 shares during the period. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Conn’s by 22.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 125,027 shares of the specialty retailer’s stock valued at $4,420,000 after buying an additional 22,875 shares during the period. 70.02% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Conn`s (NASDAQ:CONN)

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