In a report released today, Robert Farnam from Boenning & Scattergood maintained a Hold rating on Conifer Holdings (CNFR). The company’s shares closed on Friday at $3.99.
“We revised our 2019 and 2020 operating EPS estimates to ($0.83) [from ($0.90)] and $0.32 [from $0.35], respectively, to reflect the offering. By our calculations, the offering was 9% dilutive to our 2020 operating EPS estimate and 2% dilutive to our year-end 2019 book value per share estimate.”
According to TipRanks.com, Farnam is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.5% and a 33.3% success rate. Farnam covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Hallmark Financial Services, and Selective Insurance Group.
The word on The Street in general, suggests a Hold analyst consensus rating for Conifer Holdings.
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Based on Conifer Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $680K. In comparison, last year the company had a GAAP net loss of $1.11 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNFR in relation to earlier this year.
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Conifer Holdings, Inc. engages in the sale of property and casualty insurance products. It operates through the following segments: Commercial and Personal Lines. The Commercial Lines segment offers coverage for property, liability, automobile, and miscellaneous coverage.