Analysts expect Sleep Number Corp (NASDAQ:SNBR) to announce sales of $337.10 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Sleep Number’s earnings. The lowest sales estimate is $330.30 million and the highest is $343.00 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 6.6%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, July 25th.
According to Zacks, analysts expect that Sleep Number will report full year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.63 billion to $1.66 billion. For the next financial year, analysts forecast that the business will post sales of $1.75 billion, with estimates ranging from $1.73 billion to $1.79 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Sleep Number.
Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 17th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Sleep Number had a net margin of 4.74% and a negative return on equity of 92.30%. The company had revenue of $426.45 million during the quarter, compared to the consensus estimate of $427.53 million. During the same quarter last year, the company earned $0.52 earnings per share. Sleep Number’s revenue for the quarter was up 9.7% on a year-over-year basis.
Several analysts have issued reports on SNBR shares. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. TheStreet downgraded shares of WCF Bancorp from a “c” rating to a “d+” rating in a research report on Thursday, April 18th. Barclays reaffirmed an “equal weight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Sleep Number in a research report on Thursday, April 18th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research downgraded shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Sleep Number presently has an average rating of “Hold” and an average target price of $42.80.
In related news, CFO David R. Callen purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average price of $33.57 per share, with a total value of $67,140.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in Sleep Number during the first quarter worth $31,000. O Shaughnessy Asset Management LLC bought a new position in Sleep Number during the first quarter worth $62,000. SG Americas Securities LLC bought a new position in Sleep Number during the first quarter worth $132,000. Advisor Group Inc. lifted its stake in Sleep Number by 1,761.0% during the fourth quarter. Advisor Group Inc. now owns 3,722 shares of the company’s stock worth $118,000 after purchasing an additional 3,522 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Sleep Number during the fourth quarter worth $121,000.
NASDAQ:SNBR traded down $0.36 during trading hours on Friday, hitting $41.64. The stock had a trading volume of 13,749 shares, compared to its average volume of 375,627. Sleep Number has a 1-year low of $26.22 and a 1-year high of $49.56. The firm has a 50 day simple moving average of $38.75. The company has a market capitalization of $1.25 billion, a P/E ratio of 21.77, a PEG ratio of 1.20 and a beta of 1.13.
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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.
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