Zacks: Brokerages Expect Conn’s Inc (CONN) Will Announce Quarterly Sales of $384.69 Million
Wall Street brokerages expect that Conn’s Inc (NASDAQ:CONN) will announce sales of $384.69 million for the current quarter, according to Zacks. Four analysts have provided estimates for Conn’s’ earnings. The highest sales estimate is $388.79 million and the lowest is $381.46 million. Conn’s reported sales of $373.17 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, December 6th.
According to Zacks, analysts expect that Conn’s will report full-year sales of $1.57 billion for the current fiscal year, with estimates ranging from $1.56 billion to $1.58 billion. For the next year, analysts expect that the company will report sales of $1.68 billion per share, with estimates ranging from $1.64 billion to $1.74 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Conn’s.
Conn’s (NASDAQ:CONN) last issued its quarterly earnings results on Tuesday, September 4th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.16. Conn’s had a net margin of 2.25% and a return on equity of 10.05%. The firm had revenue of $384.60 million for the quarter, compared to analyst estimates of $383.96 million. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year.
Shares of CONN stock opened at $34.95 on Monday. The company has a current ratio of 4.83, a quick ratio of 3.86 and a debt-to-equity ratio of 1.61. Conn’s has a 1 year low of $21.65 and a 1 year high of $42.65. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 0.63 and a beta of 1.63.
In other news, Director Bob L. Martin sold 8,000 shares of Conn’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $37.50, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 49,265 shares of the company’s stock, valued at approximately $1,847,437.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Schofman sold 2,000 shares of Conn’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $36.50, for a total transaction of $73,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 16,000 shares of company stock valued at $599,440. Insiders own 3.34% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG grew its position in shares of Conn’s by 2.2% in the 1st quarter. UBS Group AG now owns 1,474,975 shares of the specialty retailer’s stock valued at $50,150,000 after acquiring an additional 31,532 shares during the period. BlackRock Inc. boosted its holdings in shares of Conn’s by 6.9% during the 2nd quarter. BlackRock Inc. now owns 1,470,515 shares of the specialty retailer’s stock worth $48,526,000 after buying an additional 94,710 shares during the period. Millennium Management LLC boosted its holdings in shares of Conn’s by 485.0% during the 2nd quarter. Millennium Management LLC now owns 664,210 shares of the specialty retailer’s stock worth $21,919,000 after buying an additional 550,663 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Conn’s by 11.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 573,881 shares of the specialty retailer’s stock worth $18,934,000 after buying an additional 59,467 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Conn’s by 40.1% during the 1st quarter. JPMorgan Chase & Co. now owns 415,767 shares of the specialty retailer’s stock worth $14,136,000 after buying an additional 119,075 shares during the period. 67.31% of the stock is owned by institutional investors.
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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