$0.70 EPS Expected for Sleep Number Corp (SNBR) This Quarter

Wall Street analysts expect Sleep Number Corp (NASDAQ:SNBR) to announce earnings per share (EPS) of $0.70 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Sleep Number’s earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.84. Sleep Number reported earnings per share of $0.62 during the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The business is expected to issue its next quarterly earnings results on Tuesday, October 16th.

According to Zacks, analysts expect that Sleep Number will report full-year earnings of $1.81 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.90. For the next fiscal year, analysts forecast that the firm will report earnings of $2.27 per share, with EPS estimates ranging from $2.04 to $2.56. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Sleep Number.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.02 earnings per share (EPS) for the quarter. Sleep Number had a net margin of 4.47% and a return on equity of 115.80%. The company had revenue of $316.34 million during the quarter, compared to analysts’ expectations of $314.81 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The firm’s revenue was up 11.1% on a year-over-year basis.

A number of brokerages have recently issued reports on SNBR. Zacks Investment Research raised shares of Sleep Number from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday. ValuEngine raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. BidaskClub raised shares of Sleep Number from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. Stifel Nicolaus cut their price objective on shares of Sleep Number from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, July 26th. Finally, Piper Jaffray Companies cut shares of Sleep Number from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.67.

In other Sleep Number news, insider Shelly Radue Ibach sold 10,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David R. Callen purchased 1,000 shares of the company’s stock in a transaction on Monday, July 30th. The shares were purchased at an average cost of $27.88 per share, with a total value of $27,880.00. The disclosure for this purchase can be found here. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Sleep Number by 2.1% during the 1st quarter. BlackRock Inc. now owns 5,112,951 shares of the company’s stock valued at $179,718,000 after buying an additional 102,964 shares during the period. Vulcan Value Partners LLC boosted its position in Sleep Number by 56.6% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,974,464 shares of the company’s stock valued at $144,359,000 after buying an additional 1,797,074 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in Sleep Number by 91.5% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 1,066,142 shares of the company’s stock worth $37,474,000 after purchasing an additional 509,298 shares in the last quarter. River Road Asset Management LLC raised its holdings in Sleep Number by 35.4% in the 2nd quarter. River Road Asset Management LLC now owns 749,107 shares of the company’s stock worth $21,739,000 after purchasing an additional 195,713 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its holdings in Sleep Number by 19.4% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 611,102 shares of the company’s stock worth $17,734,000 after purchasing an additional 99,296 shares in the last quarter.

Shares of Sleep Number stock traded up $0.63 during trading on Friday, reaching $36.97. The company’s stock had a trading volume of 5,785 shares, compared to its average volume of 471,130. Sleep Number has a 52-week low of $26.22 and a 52-week high of $40.72. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14.

About Sleep Number

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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