Zacks: Analysts Expect Sleep Number Corp (NASDAQ:SNBR) Will Announce Quarterly Sales of $230.62 Million

Wall Street brokerages predict that Sleep Number Corp (NASDAQ:SNBR) will report $230.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Sleep Number’s earnings, with the highest sales estimate coming in at $281.40 million and the lowest estimate coming in at $198.00 million. Sleep Number reported sales of $355.96 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 35.2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, July 23rd.

On average, analysts expect that Sleep Number will report full year sales of $1.52 billion for the current financial year, with estimates ranging from $1.43 billion to $1.64 billion. For the next year, analysts anticipate that the business will post sales of $1.68 billion, with estimates ranging from $1.55 billion to $1.82 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 announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.64. Sleep Number had a negative return on equity of 59.24% and a net margin of 5.48%. The firm had revenue of $473.00 million for the quarter, compared to analysts’ expectations of $433.19 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Sleep Number’s revenue for the quarter was up 10.9% compared to the same quarter last year.

SNBR has been the topic of several research reports. Wedbush upped their price objective on Sleep Number from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. TheStreet upgraded Sleep Number from a “c” rating to a “b-” rating in a research report on Thursday. BidaskClub upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group dropped their price target on Sleep Number from $34.00 to $18.00 and set a “sell” rating on the stock in a research report on Monday, March 30th. Finally, Zacks Investment Research upgraded Sleep Number from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Sleep Number currently has an average rating of “Hold” and a consensus target price of $38.38.

NASDAQ SNBR traded down $1.77 on Friday, hitting $41.23. 558,798 shares of the stock traded hands, compared to its average volume of 456,919. The stock has a 50-day moving average of $35.12 and a 200 day moving average of $39.56. Sleep Number has a twelve month low of $15.27 and a twelve month high of $61.00. The company has a market capitalization of $1.14 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 2.60 and a beta of 2.20.

In related news, CAO Robert Joseph Poirier sold 2,786 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $30.78, for a total value of $85,753.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SNBR. Alliancebernstein L.P. boosted its stake in Sleep Number by 11.6% during the 1st quarter. Alliancebernstein L.P. now owns 1,623,407 shares of the company’s stock valued at $31,104,000 after purchasing an additional 169,240 shares in the last quarter. State Street Corp boosted its stake in Sleep Number by 3.1% during the 1st quarter. State Street Corp now owns 858,176 shares of the company’s stock valued at $16,443,000 after purchasing an additional 26,149 shares in the last quarter. Man Group plc boosted its stake in Sleep Number by 44.8% during the 4th quarter. Man Group plc now owns 522,495 shares of the company’s stock valued at $25,728,000 after purchasing an additional 161,677 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sleep Number by 21.2% during the 4th quarter. Geode Capital Management LLC now owns 496,944 shares of the company’s stock valued at $24,468,000 after purchasing an additional 87,035 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Sleep Number by 1.1% during the 1st quarter. Nuveen Asset Management LLC now owns 485,956 shares of the company’s stock valued at $9,311,000 after purchasing an additional 5,119 shares in the last quarter.

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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