You have to wonder if analysts know about good upcoming earnings due to recent sales so they downgrade to accumulate then get in before the earnings only to upgrade after the kick butt earnings. Who knows. I mean, a 1 year price target of $7.75?? c'mon.
As long as the company isn't closing shop (which is insane to think so) and this is just overall downward draft, tax loss selling, and oil downers, this is a great buy and hold.
If this is JUST tax selling then this is a good buy opportunity for a 6 month hold. The problem is that we do not know if there's a monster under the blanket.
If you back out the company's cash, the market cap is around $150M. Which leaves a shareprice of about $5 for the actual business. So we have a company with a P/S of a little more than one, healthy cash flow, no debt, trailing P/E of about 16 ($0.30 EPS on $5) and a forward (est) P/E of about 10 ($0.50 EPS on $5). If this isn't a takeout target, I don't know what is.
On the other hand, Best Buy is doing well. Kind of tough to figure out where CONN stands in the mix.
Also, yes, it's clear to see the additional bad debt provision in the balance sheet. Other than that, sales are up but the tightening of credit applications will partially offset sales.
I'm seeing the same thing - but, if you notice, the cash level was the same 9 months ago. Looks like they may just keep low cash on hand and use the credit facilities. Not really sure what's going on here but it does look like this is how they "normally" manage their cash.
Thanks - had no idea. BOA downgrade: "The firm is reducing FY2014/2015 revenue estimates from $118/$136mn to $117/$128mn and EPS from $0.32/$0.56 to $0.30/$0.46." Seems like a pretty drastic target reduction ($17 to $10.50) for a $0.02/$0.10 EPS range reduction.
Bought more at $8.40. I have a feeling I'll be saying "bought more" at $7.40 at this rate. My only explanation is "tax loss selling".
Stock is trading near 52-week low, has record backlog, new product(s), and was cash flow positive even when the EPS was negative. I think this will be a good quarter.
I'm in. At $23, I was hesitant. At $21 and $19.80, yes. The short "event" has occurred. As long as the company is on the right track and is prudently setting aside default reserves and tightening up their underwriting and loans then they should do fine. Sales may drop a bit due to declining potential sales but it will be better quality sales. Shorts do have to cover at some point as long as the company takes these steps.
Good thing I had the sense not to buy into that "hedge fund" dude's big bet on CONN. Was going to go in for some the other day but after reading the last 10Q, those margin numbers and credit risk numbers didn't look good at all. Also, always be wary of high short interest - they know more than you, usually. CFO "immediately leaving" is never good either.
The only thing I can add is that the drop is on very low volume. I've been nibbling on the way down.
Wow, I thought I was getting a deal after waiting from $54 to $41. Not sure if I should average down here or not but $33 is definitely better than $41.