Equities research analysts predict that Conifer Holdings Inc (NASDAQ:CNFR) will report sales of $23.41 million for the current quarter, according to Zacks. Two analysts have made estimates for Conifer’s earnings, with the highest sales estimate coming in at $24.00 million and the lowest estimate coming in at $22.81 million. Conifer reported sales of $25.27 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.4%. The firm is expected to announce its next earnings report on Wednesday, August 14th.
On average, analysts expect that Conifer will report full year sales of $95.36 million for the current year, with estimates ranging from $93.03 million to $97.70 million. For the next financial year, analysts expect that the business will post sales of $99.59 million, with estimates ranging from $94.69 million to $104.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Conifer.
Conifer (NASDAQ:CNFR) last issued its earnings results on Wednesday, May 8th. The insurance provider reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.47). The firm had revenue of $24.30 million for the quarter, compared to analyst estimates of $24.01 million. Conifer had a negative return on equity of 21.47% and a negative net margin of 10.28%.
CNFR has been the subject of a number of analyst reports. Boenning Scattergood reiterated a “buy” rating and set a $6.50 target price on shares of Conifer in a research note on Thursday, February 28th. Zacks Investment Research downgraded shares of Conifer from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Conifer currently has a consensus rating of “Hold” and a consensus price target of $6.50.
In other news, President Brian J. Roney bought 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $3.39 per share, for a total transaction of $33,900.00. Following the completion of the purchase, the president now owns 331,919 shares in the company, valued at approximately $1,125,205.41. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 47.50% of the company’s stock.
An institutional investor recently raised its position in Conifer stock. Quantum Capital Management raised its stake in Conifer Holdings Inc (NASDAQ:CNFR) by 60.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,697 shares of the insurance provider’s stock after acquiring an additional 7,030 shares during the period. Quantum Capital Management owned 0.22% of Conifer worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 19.27% of the company’s stock.
Shares of CNFR stock traded up $0.12 on Thursday, reaching $3.75. 3,106 shares of the stock were exchanged, compared to its average volume of 7,638. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.81. The company has a market cap of $31.28 million, a P/E ratio of -8.52 and a beta of 1.56. Conifer has a twelve month low of $3.06 and a twelve month high of $7.20.
Conifer Company Profile
Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.
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