Conifer (CNFR) Releases Earnings Results, Misses Estimates By $0.47 EPS

Conifer (NASDAQ:CNFR) announced its quarterly earnings results on Wednesday, May 8th. The insurance provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.47), reports. Conifer had a negative return on equity of 21.47% and a negative net margin of 10.28%. The business had revenue of $24.30 million for the quarter, compared to analyst estimates of $24.01 million.

Conifer stock opened at $3.93 on Friday. Conifer has a 12 month low of $3.06 and a 12 month high of $7.20. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $32.78 million, a PE ratio of -8.93 and a beta of 1.52.

CNFR has been the topic of several research reports. Zacks Investment Research downgraded Conifer from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Boenning Scattergood reaffirmed a “buy” rating and issued a $6.50 target price on shares of Conifer in a research report on Thursday, February 28th. One equities research 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.50.

A hedge fund recently raised its stake in Conifer stock. Quantum Capital Management increased its stake in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 60.3% during the fourth 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 buying an additional 7,030 shares during the quarter. Quantum Capital Management owned about 0.22% of Conifer worth $65,000 at the end of the most recent reporting period. Institutional investors own 19.27% of the company’s stock.

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About Conifer

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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Earnings History for Conifer (NASDAQ:CNFR)

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