Select Comfort Corporation (NASDAQ:SCSS) announced its quarterly earnings data on Tuesday, October 17th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.06), Bloomberg Earnings reports. The firm had revenue of $402.64 million during the quarter, compared to analyst estimates of $413.89 million. Select Comfort Corporation had a net margin of 4.34% and a return on equity of 51.12%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. Select Comfort Corporation updated its FY17 guidance to $1.30-1.45 EPS.
Select Comfort Corporation (NASDAQ:SCSS) traded down 0.41% during midday trading on Thursday, reaching $34.00. The company’s stock had a trading volume of 1,135,463 shares. The firm has a 50 day moving average price of $30.80 and a 200 day moving average price of $30.97. Select Comfort Corporation has a 1-year low of $18.44 and a 1-year high of $36.74. The firm has a market capitalization of $1.35 billion, a PE ratio of 24.25 and a beta of 0.65.
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Select Comfort Corporation declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 17th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
SCSS has been the topic of several recent research reports. Zacks Investment Research raised shares of Select Comfort Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Bank of America Corporation set a $33.00 price target on shares of Select Comfort Corporation and gave the stock a “hold” rating in a research note on Wednesday, October 18th. BidaskClub cut shares of Select Comfort Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. KeyCorp reissued a “hold” rating on shares of Select Comfort Corporation in a research note on Friday, September 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $36.00 price objective on shares of Select Comfort Corporation in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.67.
In other news, SVP Mark A. Kimball sold 8,000 shares of Select Comfort Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.06, for a total value of $272,480.00. Following the transaction, the senior vice president now owns 72,186 shares in the company, valued at approximately $2,458,655.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joseph Hunter Saklad sold 5,100 shares of Select Comfort Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $33.24, for a total value of $169,524.00. Following the completion of the transaction, the senior vice president now owns 39,550 shares in the company, valued at approximately $1,314,642. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,100 shares of company stock worth $1,039,964. Corporate insiders own 4.00% of the company’s stock.
About Select Comfort Corporation
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. Its Sleep Number bed offers SleepIQ technology sensors that work directly with the bed’s DualAir technology to track each individual’s sleep.
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