Zacks: Brokers expect Conifer Holdings, Inc. (NASDAQ:CNFR) to post quarterly sales of $24.78 million

Equity research analysts expect Conifer Holdings, Inc. (NASDAQ:CNFR – Get Rating) to report sales of $24.78 million for the current quarter, according to Zacks Investment Research. Three analysts have made earnings estimates for Conifer, with the lowest sales estimate being $21.98 million and the highest estimate being $27.10 million. Conifer reported sales of $35.45 million in the same quarter last year, suggesting a negative 30.1% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.

According to Zacks, analysts expect Conifer to post annual sales of $101.66 million for the current fiscal year, with estimates ranging from $88.54 million to $111.80 million. For the next fiscal year, analysts expect the company to post sales of $112.40 million, with estimates ranging from $83.12 million to $127.89 million. Zacks sales averages are an average average based on a survey of sell-side research companies that cover Conifer.

Conifer (NASDAQ:CNFR – Get Rating) last released its quarterly results on Wednesday, May 11. The insurance provider reported ($0.30) earnings per share for the quarter, missing analyst consensus estimates of ($0.13) by ($0.17). Conifer had a net margin of 0.58% and a negative return on equity of 24.66%. In the same period a year earlier, the company posted ($0.72) earnings per share.

Separately, Zacks Investment Research downgraded Conifer from a “hold” rating to a “sell” rating in a Tuesday, May 17 research report.

A hedge fund recently increased its stake in Conifer shares. Renaissance Technologies LLC increased its holdings of Conifer Holdings, Inc. (NASDAQ: CNFR – Get Rating) stock by 107.5% in the third quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 69,100 shares of the insurance provider after buying an additional 35,800 shares during the period. Renaissance Technologies LLC owned 0.71% of Conifer worth $199,000 at the end of the most recent reporting period. Institutional investors hold 36.93% of the company’s shares.

Shares of CNFR opened at $1.44 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt ratio of 1.27. Conifer has a 12-month low of $1.28 and a 12-month high of $4.33. The company has a market capitalization of $13.99 million, a P/E ratio of 20.57 and a beta of 1.14. The company has a 50-day simple moving average of $2.19 and a 200-day simple moving average of $2.30.

Conifer Company Profile (Get a rating)

Conifer Holdings, Inc., an insurance holding company, is engaged in the sale of property and casualty insurance products. It provides insurance coverage in specialized commercial and personal product lines. The Company underwrites a variety of specialty insurance products, including property, general liability, alcohol, automobile, home and home insurance policies.

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