NEW YORK (TheStreet) -- Shares of Conn's (CONN - Get Report) were gaining 4.6% to $29.94 on heavy trading volume after the electronics store reported its financial results for the second quarter of fiscal 2016.
Conn's reported earnings of 47 cents a share for the fiscal second quarter, in line with analysts' estimates for the quarter. Revenue grew 12.2% year over year to $396.1 million for the quarter, which also fell in line with analysts' estimates.
Same store sales grew 6.7% in the second quarter, excluding the impact of the company's decision to exit video game products, digital cameras, and certain tablets.
The company said it expects same store sales growth to be flat to up low single digits in fiscal year 2016.
About 1.2 million shares of Conn's were traded by 10:06 a.m. Monday, above the company's average trading volume of about 608,000 shares a day.
TheStreet Ratings team rates CONN'S INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CONN'S INC (CONN) a HOLD. The primary factors that have impacted our rating are mixed – some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally higher debt management risk."
You can view the full analysis from the report here: CONN Ratings Report