Sleep Number Corp (NASDAQ:SNBR) – Equities research analysts at Wedbush lowered their Q2 2018 earnings estimates for shares of Sleep Number in a research report issued to clients and investors on Friday. Wedbush analyst S. Basham now anticipates that the company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.03. Wedbush also issued estimates for Sleep Number’s Q3 2018 earnings at $0.79 EPS and FY2019 earnings at $2.32 EPS.
Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.13. The firm had revenue of $363.28 million during the quarter, compared to the consensus estimate of $331.72 million. Sleep Number had a return on equity of 61.21% and a net margin of 4.51%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share.
Other research analysts also recently issued reports about the company. BidaskClub downgraded Sleep Number from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Zacks Investment Research downgraded Sleep Number from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. ValuEngine upgraded Sleep Number from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and issued a $47.00 price target (up from $40.00) on shares of Sleep Number in a research note on Friday. Finally, Bank of America downgraded Sleep Number from a “neutral” rating to an “underperform” rating in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.00.
Sleep Number (SNBR) opened at $34.74 on Monday. The firm has a market capitalization of $1,348.36, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. Sleep Number has a one year low of $21.52 and a one year high of $40.72.
Hedge funds and other institutional investors have recently modified their holdings of the company. Meadow Creek Investment Management LLC bought a new position in shares of Sleep Number during the 4th quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Sleep Number during the 4th quarter worth approximately $114,000. Fagan Associates Inc. bought a new position in shares of Sleep Number during the 4th quarter worth approximately $211,000. PNC Financial Services Group Inc. boosted its stake in shares of Sleep Number by 395.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,913 shares of the company’s stock worth $139,000 after acquiring an additional 3,124 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Sleep Number during the 4th quarter worth approximately $184,000.
In other news, SVP Mark A. Kimball sold 8,000 shares of Sleep Number stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $34.99, for a total transaction of $279,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 24,000 shares of company stock valued at $884,800 over the last quarter. 4.00% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: This article was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.thelincolnianonline.com/2018/02/20/sleep-number-corp-snbr-to-post-q2-2018-earnings-of-0-00-per-share-wedbush-forecasts.html.
Sleep Number Company Profile
Sleep Number Corporation, formerly Select Comfort Corporation, is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories.
Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.