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NEW YORK (TheStreet) -- Conn's (CONN) - Get Conn's, Inc. Report stock is plummeting by 24.81% to $8.81 on heavy trading volume late Thursday afternoon, after the company reported disappointing results for the 2017 first quarter and cut full-year guidance.

Before the market open, the furniture and home-appliance retailer reported an adjusted loss of 31 cents per share vs. analysts' estimates for adjusted earnings of 6 cents per share.

Revenue increased by 6.6% year-over-year to $389.1 million, but came in below analysts' estimates for $393 million.

For fiscal 2017, Conn's now expects revenue growth in the low-to-mid single digits, down from its previous forecast for mid-to-high-single digits.

Conn's isn't just a retailer; it also provides credit to its customers so they can buy products. CEO Norm Miller blamed the company's disappointing results on its efforts to transition to transform its credit business.

Oppenheimer warns that today's commentary indicates a restructuring at the credit business "is apt to weigh upon results for at least the next several quarters," Barron's reports.

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About 5.23 million shares of Conn's have been traded so far today, well above its average trading volume of roughly 469,920 shares per day.

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.

Conn's strengths such as its revenue growth, reasonable valuation levels and expanding profit margins are countered by weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: CONN

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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