Zacks: Brokerages Expect Conifer Holdings Inc (NASDAQ:CNFR) Will Post Earnings of -$0.18 Per Share

Analysts expect Conifer Holdings Inc (NASDAQ:CNFR) to report earnings per share (EPS) of ($0.18) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Conifer’s earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.11). Conifer posted earnings of ($0.02) per share in the same quarter last year, which indicates a negative year over year growth rate of 800%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Conifer will report full year earnings of ($0.80) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.70). For the next year, analysts expect that the business will post earnings of $0.13 per share, with EPS estimates ranging from ($0.10) to $0.35. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Conifer.

Conifer (NASDAQ:CNFR) last posted its quarterly earnings data 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 business had revenue of $24.30 million during the quarter, compared to analyst estimates of $24.01 million. Conifer had a negative net margin of 10.28% and a negative return on equity of 21.47%.

A number of research analysts have commented on the stock. Boenning Scattergood restated a “neutral” rating on shares of Conifer in a research note on Thursday, May 16th. Zacks Investment Research lowered shares of Conifer from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.50.

NASDAQ CNFR opened at $3.99 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.81. Conifer has a one year low of $3.06 and a one year high of $7.20. The company has a fifty day simple moving average of $3.98.

In other news, President Brian J. Roney purchased 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were acquired at an average cost of $3.39 per share, for a total transaction of $33,900.00. Following the completion of the purchase, the president now directly owns 331,919 shares in the company, valued at approximately $1,125,205.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 47.50% of the company’s stock.

A hedge fund recently raised its stake in Conifer stock. Quantum Capital Management raised its stake in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 60.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,697 shares of the insurance provider’s stock after acquiring an additional 7,030 shares during the quarter. Quantum Capital Management owned approximately 0.22% of Conifer worth $65,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.14% of the company’s stock.

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 and Estimates for Conifer (NASDAQ:CNFR)

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