$23.33 Million in Sales Expected for Conifer Holdings (CNFR) This Quarter
Brokerages expect that Conifer Holdings (NASDAQ:CNFR) will announce sales of $23.33 million for the current quarter, according to Zacks. Two analysts have made estimates for Conifer’s earnings. The lowest sales estimate is $21.65 million and the highest is $25.00 million. Conifer reported sales of $26.28 million in the same quarter last year, which indicates a negative year over year growth rate of 11.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Conifer will report full-year sales of $95.05 million for the current financial year, with estimates ranging from $91.59 million to $98.50 million. For the next year, analysts forecast that the business will report sales of $95.21 million per share, with estimates ranging from $91.22 million to $99.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Conifer.
Conifer (NASDAQ:CNFR) last announced its earnings results on Thursday, May 10th. The insurance provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.19. The business had revenue of $24.82 million during the quarter, compared to analyst estimates of $24.91 million. Conifer had a negative net margin of 20.22% and a negative return on equity of 34.51%.
Shares of CNFR stock traded up $0.25 during mid-day trading on Tuesday, reaching $6.35. 4,613 shares of the company’s stock traded hands, compared to its average volume of 4,319. Conifer has a 12 month low of $5.00 and a 12 month high of $7.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.42 and a quick ratio of 0.42.
In other Conifer news, Director R Jamison Williams, Jr. acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 27th. The stock was purchased at an average price of $6.00 per share, with a total value of $30,000.00. Following the transaction, the director now directly owns 348,605 shares in the company, valued at approximately $2,091,630. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 52.50% of the company’s stock.
A hedge fund recently raised its stake in Conifer stock. Aegis Financial Corp increased its position in Conifer Holdings (NASDAQ:CNFR) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 750,793 shares of the insurance provider’s stock after buying an additional 13,415 shares during the period. Conifer comprises approximately 6.7% of Aegis Financial Corp’s holdings, making the stock its 6th largest position. Aegis Financial Corp owned 8.81% of Conifer worth $4,392,000 at the end of the most recent quarter. 25.96% of the stock is currently owned by institutional investors.
Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and specialty personal product lines. It underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. The company serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which include 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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