Sleep Number Corp (SNBR) to Post Q2 2018 Earnings of $0.00 Per Share, Wedbush Forecasts

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.

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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.

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