Conn’s, Inc. (CONN) Earns Hold Rating from Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reissued their hold rating on shares of Conn’s, Inc. (NASDAQ:CONN) in a research report report published on Thursday. Oppenheimer Holdings also issued estimates for Conn’s’ Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at $0.12 EPS, FY2018 earnings at $0.22 EPS and FY2019 earnings at $0.40 EPS.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Conn’s from a strong-buy rating to a hold rating in a research note on Monday, July 3rd. Stifel Nicolaus reiterated a buy rating and set a $20.00 price target (up previously from $19.00) on shares of Conn’s in a research note on Wednesday, June 7th. ValuEngine upgraded shares of Conn’s from a sell rating to a hold rating in a research note on Friday, June 2nd. Stephens reiterated an overweight rating and set a $28.00 price target (up previously from $25.00) on shares of Conn’s in a research note on Monday, July 17th. Finally, KeyCorp reiterated an overweight rating and set a $22.00 price target on shares of Conn’s in a research note on Tuesday, September 5th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Conn’s currently has an average rating of Buy and an average target price of $25.75.
Conn’s (NASDAQ:CONN) traded down 0.90% on Thursday, reaching $22.05. 801,347 shares of the company were exchanged. The stock’s market capitalization is $688.09 million. Conn’s has a 52 week low of $7.75 and a 52 week high of $24.10. The stock has a 50-day moving average price of $20.53 and a 200 day moving average price of $16.46.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Thursday, September 7th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.28. The firm had revenue of $366.65 million during the quarter, compared to analysts’ expectations of $371.97 million. Conn’s had a negative net margin of 0.14% and a positive return on equity of 1.08%. Conn’s’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. Analysts forecast that Conn’s will post $0.65 earnings per share for the current year.
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In other news, major shareholder W. R. Jr. Stephens bought 12,000 shares of Conn’s stock in a transaction dated Friday, July 14th. The stock was bought at an average price of $18.85 per share, for a total transaction of $226,200.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.48% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its stake in shares of Conn’s by 77.5% in the 1st quarter. Point72 Asset Management L.P. now owns 400,000 shares of the specialty retailer’s stock worth $3,500,000 after acquiring an additional 174,600 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Conn’s in the 2nd quarter worth $2,202,000. Bank of Montreal Can acquired a new stake in shares of Conn’s in the 1st quarter worth $875,000. Stephens Inc. AR lifted its stake in shares of Conn’s by 85.5% in the 1st quarter. Stephens Inc. AR now owns 376,350 shares of the specialty retailer’s stock worth $3,293,000 after acquiring an additional 173,416 shares during the period. Finally, UBS Group AG lifted its stake in shares of Conn’s by 1.8% in the 1st quarter. UBS Group AG now owns 82,122 shares of the specialty retailer’s stock worth $719,000 after acquiring an additional 1,431 shares during the period. Institutional investors own 71.41% 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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