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With the stock market’s breadth overall being as bad as it is, finding a stock to pick on is not all that tough. But the purpose of the Bear of the Day is not to come out and here and kick a company when it’s down. Nor it is even a commentary on the stock’s future potential. Rather, it’s more of an autopsy. Sort of a peak behind the curtain to see what exactly has transpired.
Today’s Bear of the Day is Zacks Rank #5 (Strong Sell) Conn’s ((CONN - Free Report) ). Conn's, Inc. is a specialty retailer that operates a chain of home furniture, mattress, and consumer electronics stores. The company is headquartered in The Woodlands, Texas, and operates more than 150 retail locations across the United States.
Conn's offers a wide range of products for the home, including furniture, mattresses, appliances, TVs, audio equipment, computers, and other consumer electronics. The company's product offerings are aimed at the mid-to-low-end of the market and are designed to appeal to price-sensitive consumers.
In addition to its retail stores, Conn's also offers financing solutions to its customers. The company provides both in-house financing and third-party financing options to help customers purchase the products they need. This financing business has been a key driver of Conn's growth, as it allows the company to generate recurring revenue from interest payments and other fees.
The reason for the unfavorable Zacks Rank is the series of negative earnings estimate revisions coming from analysts. Over the last thirty days, two analysts have cut their earnings estimates for the current year, while one has done so for next year. The bearish moves have dropped our Zacks Consensus Estimate for the current year from a 39-cent loss to a loss of $3.19. Next year’s number has swung dramatically from a forecast profit of $1.28 to a loss of $1.75.
Conn’s is in the Retail – Consumer Electronics industry which ranks in the Bottom 18% of our Zacks Industry Rank. There is one stock in that industry which is in the good graces of our Zacks Rank. That is GameStop ((GME - Free Report) ). It’s also important to mention that Best Buy ((BBY - Free Report) ) is currently a Zacks Rank #3 (Hold) in the same industry.
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Bear of the Day: Conn's (CONN)
With the stock market’s breadth overall being as bad as it is, finding a stock to pick on is not all that tough. But the purpose of the Bear of the Day is not to come out and here and kick a company when it’s down. Nor it is even a commentary on the stock’s future potential. Rather, it’s more of an autopsy. Sort of a peak behind the curtain to see what exactly has transpired.
Today’s Bear of the Day is Zacks Rank #5 (Strong Sell) Conn’s ((CONN - Free Report) ). Conn's, Inc. is a specialty retailer that operates a chain of home furniture, mattress, and consumer electronics stores. The company is headquartered in The Woodlands, Texas, and operates more than 150 retail locations across the United States.
Conn's offers a wide range of products for the home, including furniture, mattresses, appliances, TVs, audio equipment, computers, and other consumer electronics. The company's product offerings are aimed at the mid-to-low-end of the market and are designed to appeal to price-sensitive consumers.
In addition to its retail stores, Conn's also offers financing solutions to its customers. The company provides both in-house financing and third-party financing options to help customers purchase the products they need. This financing business has been a key driver of Conn's growth, as it allows the company to generate recurring revenue from interest payments and other fees.
The reason for the unfavorable Zacks Rank is the series of negative earnings estimate revisions coming from analysts. Over the last thirty days, two analysts have cut their earnings estimates for the current year, while one has done so for next year. The bearish moves have dropped our Zacks Consensus Estimate for the current year from a 39-cent loss to a loss of $3.19. Next year’s number has swung dramatically from a forecast profit of $1.28 to a loss of $1.75.
Conn’s is in the Retail – Consumer Electronics industry which ranks in the Bottom 18% of our Zacks Industry Rank. There is one stock in that industry which is in the good graces of our Zacks Rank. That is GameStop ((GME - Free Report) ). It’s also important to mention that Best Buy ((BBY - Free Report) ) is currently a Zacks Rank #3 (Hold) in the same industry.