Brokerages expect Sleep Number Corp (NASDAQ:SNBR) to report $410.90 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Sleep Number’s earnings. The highest sales estimate is $422.80 million and the lowest is $403.97 million. Sleep Number posted sales of $402.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Sleep Number will report full-year sales of $1.50 billion for the current fiscal year, with estimates ranging from $1.50 billion to $1.52 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.60 billion, with estimates ranging from $1.55 billion to $1.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Sleep Number.
Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Wednesday, July 25th. The company reported $0.02 earnings per share 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 net margin of 4.47% and a return on equity of 115.80%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share.
Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Sleep Number from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, September 26th. ValuEngine raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. BidaskClub downgraded shares of Sleep Number from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Piper Jaffray Companies downgraded shares of Sleep Number from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Sleep Number from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.25.
In other news, CFO David R. Callen acquired 1,000 shares of the stock in a transaction dated Monday, July 30th. The stock was purchased at an average cost of $27.88 per share, with a total value of $27,880.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph Hunter Saklad sold 7,912 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $31.05, for a total transaction of $245,667.60. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. raised its stake in Sleep Number by 6.7% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 651,931 shares of the company’s stock worth $23,978,000 after buying an additional 40,829 shares in the last quarter. Schroder Investment Management Group raised its stake in Sleep Number by 19.9% in the second quarter. Schroder Investment Management Group now owns 28,081 shares of the company’s stock worth $837,000 after buying an additional 4,652 shares in the last quarter. Millennium Management LLC raised its stake in Sleep Number by 39.3% in the second quarter. Millennium Management LLC now owns 28,154 shares of the company’s stock worth $817,000 after buying an additional 7,949 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Sleep Number in the second quarter worth about $178,000. Finally, Point72 Asset Management L.P. bought a new position in Sleep Number in the second quarter worth about $226,000.
Sleep Number stock traded up $0.78 during mid-day trading on Wednesday, hitting $32.40. The company’s stock had a trading volume of 482,889 shares, compared to its average volume of 622,856. The company has a market capitalization of $1.28 billion, a PE ratio of 21.74, a P/E/G ratio of 1.10 and a beta of 1.15. Sleep Number has a 12 month low of $26.22 and a 12 month high of $40.72.
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 and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.
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