Zacks: Brokerages Anticipate Sleep Number Corp (SNBR) Will Post Earnings of $0.70 Per Share

Equities research analysts predict that Sleep Number Corp (NASDAQ:SNBR) will report earnings of $0.70 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Sleep Number’s earnings, with estimates ranging from $0.61 to $0.84. Sleep Number reported earnings of $0.62 per share during the same quarter last year, which would indicate a positive year over year growth rate of 12.9%. The firm is scheduled 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 financial year, analysts forecast that the company will report earnings of $2.27 per share, with EPS estimates ranging from $2.04 to $2.56. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Sleep Number.

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

A number of analysts recently weighed in on SNBR shares. ValuEngine cut shares of Sleep Number from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. BidaskClub raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Saturday, July 21st. Stifel Nicolaus decreased their price target on shares of Sleep Number from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Finally, Zacks Investment Research raised shares of Sleep Number from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.80.

In other Sleep Number news, SVP Joseph Hunter Saklad sold 7,912 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $31.05, for a total value of $245,667.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shelly Radue Ibach sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Riverhead Capital Management LLC lifted its position in shares of Sleep Number by 36.3% during the second quarter. Riverhead Capital Management LLC now owns 6,384 shares of the company’s stock worth $185,000 after purchasing an additional 1,700 shares during the last quarter. Tyers Asset Management LLC lifted its position in shares of Sleep Number by 37.6% during the second quarter. Tyers Asset Management LLC now owns 6,972 shares of the company’s stock worth $202,000 after purchasing an additional 1,904 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Sleep Number by 37.6% during the second quarter. Flinton Capital Management LLC now owns 8,466 shares of the company’s stock worth $246,000 after purchasing an additional 2,312 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Sleep Number by 0.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 353,340 shares of the company’s stock worth $12,420,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Sleep Number by 0.6% during the first quarter. Northern Trust Corp now owns 538,998 shares of the company’s stock worth $18,945,000 after purchasing an additional 3,385 shares during the last quarter.

Sleep Number stock traded down $0.34 during trading on Monday, reaching $35.59. 41,232 shares of the company’s stock were exchanged, compared to its average volume of 621,112. Sleep Number has a 52-week low of $26.22 and a 52-week high of $40.72. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15.

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.

Featured Article: What is insider trading?

Get a free copy of the Zacks research report on Sleep Number (SNBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.

Leave a Reply