Conifer (CNFR) Issues Quarterly Earnings Results
Conifer (NASDAQ:CNFR) announced its quarterly earnings results on Thursday. The insurance provider reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.16), Morningstar.com reports. The company had revenue of $24.77 million for the quarter, compared to analyst estimates of $24.14 million. Conifer had a positive return on equity of 1.18% and a negative net margin of 4.17%.
Shares of NASDAQ:CNFR traded down $0.07 during trading on Friday, reaching $5.61. 1,730 shares of the company’s stock traded hands, compared to its average volume of 1,781. Conifer has a fifty-two week low of $5.00 and a fifty-two week high of $7.20. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $47.97 million, a PE ratio of -1.93 and a beta of 0.79.
Several equities research analysts have weighed in on CNFR shares. Zacks Investment Research downgraded Conifer from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th. Boenning Scattergood restated a “buy” rating and set a $7.00 target price on shares of Conifer in a research report on Thursday. ValuEngine cut Conifer from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Finally, TheStreet cut Conifer from a “c-” rating to a “d” rating in a research report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Conifer has an average rating of “Hold” and a consensus target price of $6.42.
A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC increased its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 457,842 shares of the insurance provider’s stock after acquiring an additional 11,569 shares during the period. Northpointe Capital LLC owned approximately 5.37% of Conifer worth $2,884,000 as of its most recent SEC filing. Institutional investors own 25.61% of the company’s stock.
WARNING: “Conifer (CNFR) Issues Quarterly Earnings Results” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.thecerbatgem.com/2018/11/10/conifer-cnfr-issues-quarterly-earnings-results.html.
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.
Recommended Story: Outstanding Shares and The Effect on Share Price
Receive News & Ratings for Conifer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conifer and related companies with MarketBeat.com's FREE daily email newsletter.