Wall Street analysts forecast that Sleep Number Corp (NASDAQ:SNBR) will announce $410.90 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Sleep Number’s earnings, with the lowest sales estimate coming in at $403.97 million and the highest estimate coming in at $422.80 million. Sleep Number posted sales of $402.65 million in the same quarter last year, which suggests a positive year over year growth rate of 2%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 16th.
On average, analysts expect that Sleep Number will report full-year sales of $1.50 billion for the current financial year, with estimates ranging from $1.50 billion to $1.52 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.60 billion per share, with estimates ranging from $1.55 billion to $1.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Sleep Number.
Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, July 25th. The company reported $0.02 EPS for the quarter. The firm had revenue of $316.34 million during the quarter, compared to the consensus estimate of $314.81 million. Sleep Number had a return on equity of 115.80% and a net margin of 4.47%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) earnings per share.
A number of analysts recently commented on SNBR shares. Stifel Nicolaus decreased their price target on Sleep Number from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. BidaskClub raised Sleep Number from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. ValuEngine downgraded Sleep Number from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. TheStreet downgraded Sleep Number from a “b-” rating to a “c” rating in a research report on Thursday, July 26th. Finally, Piper Jaffray Companies downgraded Sleep Number from an “overweight” rating to a “neutral” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.00.
Shares of Sleep Number stock traded up $0.02 on Thursday, hitting $37.49. The company had a trading volume of 302,300 shares, compared to its average volume of 637,208. The company has a market cap of $1.30 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.14. Sleep Number has a 1 year low of $26.22 and a 1 year high of $40.72.
In related news, CFO David R. Callen purchased 1,000 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was purchased at an average cost of $27.88 per share, with a total value of $27,880.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Hunter Saklad sold 7,912 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $31.05, for a total value of $245,667.60. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of SNBR. Schroder Investment Management Group raised its position in Sleep Number by 19.9% during the second quarter. Schroder Investment Management Group now owns 28,081 shares of the company’s stock valued at $837,000 after purchasing an additional 4,652 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Sleep Number by 39.3% in the second quarter. Millennium Management LLC now owns 28,154 shares of the company’s stock worth $817,000 after buying an additional 7,949 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Sleep Number in the second quarter worth about $178,000. Point72 Asset Management L.P. purchased a new position in shares of Sleep Number in the second quarter worth about $226,000. Finally, Vulcan Value Partners LLC increased its holdings in shares of Sleep Number by 56.6% in the second quarter. Vulcan Value Partners LLC now owns 4,974,464 shares of the company’s stock worth $144,359,000 after buying an additional 1,797,074 shares during the period.
Sleep Number Company Profile
Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.
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