Conifer Holdings Inc (NASDAQ:CNFR) Forecasted to Post Q2 2019 Earnings of ($0.23) Per Share

Conifer Holdings Inc (NASDAQ:CNFR) – Analysts at Boenning Scattergood lifted their Q2 2019 EPS estimates for Conifer in a research note issued to investors on Monday, July 1st, according to Zacks Investment Research. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings per share of ($0.23) for the quarter, up from their previous forecast of ($0.24). Boenning Scattergood currently has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for Conifer’s Q3 2019 earnings at ($0.12) EPS and FY2019 earnings at ($0.83) EPS.

Other equities analysts have also recently issued reports about the stock. ValuEngine raised shares of United States Steel from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.50.

NASDAQ CNFR remained flat at $$3.25 on Wednesday. 4,385 shares of the company’s stock were exchanged, compared to its average volume of 3,767. Conifer has a one year low of $3.06 and a one year high of $7.00. The stock has a market capitalization of $27.11 million, a PE ratio of -7.39 and a beta of 1.50. The company’s 50 day moving average is $3.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.47 and a current ratio of 0.47.

Conifer (NASDAQ:CNFR) last issued its earnings results on Wednesday, May 8th. The insurance provider reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.47). The company had revenue of $24.30 million during the quarter, compared to analysts’ expectations of $24.01 million. Conifer had a negative return on equity of 21.47% and a negative net margin of 10.28%.

In other Conifer news, Director John William Melstrom acquired 25,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $4.25 per share, with a total value of $106,250.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at $106,250. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Brian J. Roney acquired 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $3.39 per share, for a total transaction of $33,900.00. Following the completion of the acquisition, the president now directly owns 331,919 shares in the company, valued at $1,125,205.41. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 37,000 shares of company stock valued at $146,990. 47.50% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Conifer (NASDAQ:CNFR)

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