Sleep Number Corp (NASDAQ:SNBR) Expected to Post Quarterly Sales of $337.10 Million

Wall Street analysts predict that Sleep Number Corp (NASDAQ:SNBR) will post sales of $337.10 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Sleep Number’s earnings, with the lowest sales estimate coming in at $330.30 million and the highest estimate coming in at $343.00 million. Sleep Number posted sales of $316.34 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The firm is scheduled to issue its next earnings results on Wednesday, July 24th.

On average, analysts expect that Sleep Number will report full year sales of $1.64 billion for the current year, with estimates ranging from $1.63 billion to $1.66 billion. For the next year, analysts forecast that the company will report sales of $1.75 billion, with estimates ranging from $1.73 billion to $1.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sleep Number.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Wednesday, April 17th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Sleep Number had a negative return on equity of 92.30% and a net margin of 4.74%. The company had revenue of $426.45 million during the quarter, compared to analysts’ expectations of $427.53 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. Sleep Number’s revenue for the quarter was up 9.7% compared to the same quarter last year.

A number of analysts have recently weighed in on SNBR shares. Zacks Investment Research lowered Sleep Number from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. BidaskClub raised Sleep Number from a “buy” rating to a “strong-buy” rating in a report on Monday, June 10th. ValuEngine lowered Sleep Number from a “buy” rating to a “hold” rating in a report on Friday, April 19th. TheStreet raised Sleep Number from a “d-” rating to a “c+” rating in a report on Thursday, April 18th. Finally, Barclays reissued an “equal weight” rating and issued a $38.00 target price (up previously from $36.00) on shares of Sleep Number in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.80.

Sleep Number stock opened at $39.50 on Friday. Sleep Number has a twelve month low of $26.22 and a twelve month high of $49.56. The firm has a market cap of $1.16 billion, a PE ratio of 20.57, a P/E/G ratio of 1.11 and a beta of 1.07.

In other news, Director Jean Michel Valette sold 25,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $47.58, for a total transaction of $1,189,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David R. Callen bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $33.57 per share, with a total value of $67,140.00. The disclosure for this purchase can be found here. Insiders have sold 48,074 shares of company stock valued at $2,322,558 in the last quarter. Insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SNBR. Norges Bank acquired a new stake in shares of Sleep Number during the fourth quarter worth about $16,774,000. D. E. Shaw & Co. Inc. raised its holdings in Sleep Number by 53.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 739,871 shares of the company’s stock worth $23,477,000 after purchasing an additional 259,177 shares in the last quarter. Spark Investment Management LLC raised its holdings in Sleep Number by 145.9% during the first quarter. Spark Investment Management LLC now owns 298,500 shares of the company’s stock worth $14,029,000 after purchasing an additional 177,100 shares in the last quarter. Millennium Management LLC raised its holdings in Sleep Number by 347.3% during the fourth quarter. Millennium Management LLC now owns 219,397 shares of the company’s stock worth $6,961,000 after purchasing an additional 170,352 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Sleep Number during the fourth quarter worth about $3,917,000.

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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.

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

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