Boenning Scattergood Weighs in on Conifer Holdings, Inc.’s FY2021 Earnings (NASDAQ:CNFR)

Conifer Holdings, Inc. (NASDAQ:CNFR) – Analysts at Boenning Scattergood lowered their FY2021 earnings estimates for Conifer in a note issued to investors on Monday, November 22nd. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will earn ($1.40) per share for the year, down from their prior forecast of ($1.35). Boenning Scattergood also issued estimates for Conifer’s Q4 2021 earnings at ($0.09) EPS, Q1 2022 earnings at ($0.07) EPS, Q2 2022 earnings at ($0.04) EPS, Q3 2022 earnings at ($0.02) EPS, Q4 2022 earnings at ($0.01) EPS, FY2022 earnings at ($0.15) EPS and FY2023 earnings at $0.10 EPS.

A number of other brokerages have also recently issued reports on CNFR. TheStreet cut Conifer from a “c” rating to a “d+” rating in a report on Wednesday, October 13th. Zacks Investment Research upgraded Conifer from a “sell” rating to a “hold” rating in a report on Thursday, August 12th.

Shares of CNFR stock opened at $2.42 on Wednesday. Conifer has a 1 year low of $2.16 and a 1 year high of $5.00. The stock has a market cap of $23.49 million, a PE ratio of 7.81 and a beta of 1.21. The business’s fifty day moving average is $2.74 and its 200-day moving average is $2.86. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.40 and a current ratio of 0.40.

Conifer (NASDAQ:CNFR) last issued its quarterly earnings results on Wednesday, November 10th. The insurance provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Conifer had a net margin of 2.52% and a negative return on equity of 36.05%. During the same period last year, the firm earned ($0.24) EPS.

Hedge funds have recently modified their holdings of the company. Verdence Capital Advisors LLC purchased a new position in shares of Conifer during the second quarter valued at $301,000. Renaissance Technologies LLC purchased a new position in shares of Conifer during the first quarter valued at $150,000. Finally, Citadel Advisors LLC purchased a new position in shares of Conifer during the third quarter valued at $58,000. Institutional investors and hedge funds own 2.93% of the company’s stock.

In related news, Director Joseph D. Sarafa bought 38,868 shares of the firm’s stock in a transaction that occurred on Wednesday, September 29th. The shares were acquired at an average cost of $2.67 per share, for a total transaction of $103,777.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 52.70% of the company’s stock.

Conifer Company Profile

Conifer Holdings, Inc engages in the sale of property and casualty insurance products. It operates through the following segments: Commercial and Personal Lines. The Commercial Lines segment offers coverage for property, liability, automobile, and miscellaneous coverage. The Personal Lines segment involves in the provision of catastrophe coverage or dwelling insurance.

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Earnings History and Estimates for Conifer (NASDAQ:CNFR)

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