Sleep Number Corp (SNBR) Expected to Post Quarterly Sales of $337.43 Million

Brokerages expect that Sleep Number Corp (NASDAQ:SNBR) will report sales of $337.43 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Sleep Number’s earnings, with the lowest sales estimate coming in at $324.60 million and the highest estimate coming in at $345.03 million. Sleep Number reported sales of $316.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The company is expected to report its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Sleep Number will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.66 billion. For the next year, analysts anticipate that the company will post sales of $1.76 billion, with estimates ranging from $1.73 billion to $1.79 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Sleep Number.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Wednesday, April 17th. The company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. Sleep Number had a negative return on equity of 178.70% and a net margin of 4.54%. The firm had revenue of $426.45 million for the quarter, compared to analyst estimates of $427.53 million. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis.

A number of equities analysts recently commented on SNBR shares. BidaskClub lowered Sleep Number from a “buy” rating to a “hold” rating in a research note on Tuesday, January 1st. Zacks Investment Research lowered Sleep Number from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Barclays started coverage on Sleep Number in a research note on Monday, January 28th. They issued an “equal weight” rating and a $36.00 price objective on the stock. Piper Jaffray Companies lifted their price objective on Sleep Number to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Finally, SunTrust Banks lifted their price objective on Sleep Number to $35.00 and gave the stock a “hold” rating in a research note on Thursday, February 14th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Sleep Number presently has a consensus rating of “Buy” and an average target price of $42.80.

In other Sleep Number news, SVP Suresh Krishna sold 13,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $49.25, for a total value of $647,637.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Patricia Ann Dirks sold 10,805 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $42.61, for a total value of $460,401.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,764 shares of company stock worth $6,850,756. 5.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Calamos Advisors LLC acquired a new position in Sleep Number in the first quarter valued at approximately $482,000. Deutsche Bank AG lifted its stake in Sleep Number by 56.9% in the fourth quarter. Deutsche Bank AG now owns 135,066 shares of the company’s stock valued at $4,283,000 after buying an additional 48,969 shares during the period. Geode Capital Management LLC lifted its stake in Sleep Number by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 416,283 shares of the company’s stock valued at $13,207,000 after buying an additional 4,251 shares during the period. Norges Bank acquired a new position in Sleep Number in the fourth quarter valued at approximately $16,774,000. Finally, Advisory Services Network LLC acquired a new position in Sleep Number in the fourth quarter valued at approximately $121,000.

Shares of SNBR stock traded down $8.87 during mid-day trading on Friday, reaching $39.16. 5,263,478 shares of the stock traded hands, compared to its average volume of 699,032. Sleep Number has a 1-year low of $26.22 and a 1-year high of $49.56. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.04 and a beta of 1.30.

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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Earnings History and Estimates for Sleep Number (NASDAQ:SNBR)

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