Conn’s, Inc. (NASDAQ:CONN) to Post Q2 2023 Earnings of $0.06 Per Share, Jefferies Financial Group Forecasts

Conn’s, Inc. (NASDAQ:CONNGet Rating) – Equities researchers at Jefferies Financial Group reduced their Q2 2023 earnings estimates for shares of Conn’s in a research report issued on Thursday, June 2nd. Jefferies Financial Group analyst K. Joseph now forecasts that the specialty retailer will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.41. Jefferies Financial Group currently has a “Buy” rating and a $24.00 price target on the stock. Jefferies Financial Group also issued estimates for Conn’s’ Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.18 EPS, FY2023 earnings at $0.63 EPS, Q1 2024 earnings at $0.22 EPS and FY2024 earnings at $1.70 EPS.

Other equities research analysts also recently issued reports about the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Conn’s in a research note on Tuesday, April 5th. StockNews.com began coverage on shares of Conn’s in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Stephens dropped their target price on shares of Conn’s to $13.00 in a report on Friday. TheStreet lowered Conn’s from a “b-” rating to a “c” rating in a research report on Tuesday, March 29th. Finally, Zacks Investment Research raised Conn’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Conn’s presently has an average rating of “Hold” and a consensus price target of $20.33.

Shares of NASDAQ:CONN opened at $11.17 on Monday. The company has a 50-day moving average price of $15.04 and a two-hundred day moving average price of $19.31. The company has a quick ratio of 2.22, a current ratio of 3.29 and a debt-to-equity ratio of 1.03. Conn’s has a twelve month low of $11.11 and a twelve month high of $31.48. The firm has a market capitalization of $265.70 million, a PE ratio of 4.79, a P/E/G ratio of 0.31 and a beta of 2.31.

Conn’s (NASDAQ:CONNGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The specialty retailer reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.08. The firm had revenue of $339.80 million for the quarter, compared to the consensus estimate of $360.78 million. Conn’s had a net margin of 4.41% and a return on equity of 11.49%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share.

A number of hedge funds have recently modified their holdings of CONN. Denali Advisors LLC bought a new stake in Conn’s during the fourth quarter valued at about $47,000. Captrust Financial Advisors raised its stake in shares of Conn’s by 53.5% in the first quarter. Captrust Financial Advisors now owns 4,856 shares of the specialty retailer’s stock worth $75,000 after purchasing an additional 1,693 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Conn’s during the third quarter valued at approximately $82,000. Landscape Capital Management L.L.C. purchased a new position in Conn’s during the first quarter valued at approximately $158,000. Finally, MetLife Investment Management LLC raised its position in Conn’s by 58.5% during the first quarter. MetLife Investment Management LLC now owns 10,714 shares of the specialty retailer’s stock valued at $165,000 after acquiring an additional 3,954 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

About Conn’s (Get Rating)

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 flat and other mattresses; and home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges.

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