Sleep Number Corp (SNBR) Expected to Announce Earnings of $0.70 Per Share

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Equities research analysts expect Sleep Number Corp (NASDAQ:SNBR) to post $0.70 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Sleep Number’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.61. Sleep Number posted earnings of $0.62 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 12.9%. The business is scheduled to report its next earnings report after the market closes on Wednesday, October 24th.

On average, 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 year, analysts expect that the company will post earnings of $2.27 per share, with EPS estimates ranging from $2.04 to $2.56. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Sleep Number.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, July 25th. The company reported $0.02 earnings per share (EPS) for the quarter. Sleep Number had a net margin of 4.47% and a return on equity of 115.80%. The company had revenue of $316.34 million for the quarter, compared to analysts’ expectations of $314.81 million. During the same quarter last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis.

Several brokerages recently issued reports on SNBR. Stifel Nicolaus dropped their target price on shares of Sleep Number from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, July 26th. BidaskClub upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. ValuEngine cut shares of Sleep Number from a “hold” rating to a “sell” rating in a report on Friday, June 29th. TheStreet cut shares of Sleep Number from a “b-” rating to a “c” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded shares of Sleep Number from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $35.25.

SNBR stock traded up $0.78 on Monday, hitting $32.40. The company had a trading volume of 482,889 shares, compared to its average volume of 622,856. Sleep Number has a 12-month low of $26.22 and a 12-month high of $40.72. The stock has a market capitalization of $1.28 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.10 and a beta of 1.15.

In other Sleep Number news, insider Shelly Radue Ibach sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $38.00, for a total value of $380,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David R. Callen purchased 1,000 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was acquired at an average price of $27.88 per share, for a total transaction of $27,880.00. The disclosure for this purchase can be found here. 4.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Sleep Number by 2.1% during the 1st quarter. BlackRock Inc. now owns 5,112,951 shares of the company’s stock valued at $179,718,000 after purchasing an additional 102,964 shares during the period. Vulcan Value Partners LLC raised its position in shares of Sleep Number by 56.6% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,974,464 shares of the company’s stock valued at $144,359,000 after purchasing an additional 1,797,074 shares during the period. River Road Asset Management LLC raised its position in shares of Sleep Number by 35.4% during the 2nd quarter. River Road Asset Management LLC now owns 749,107 shares of the company’s stock valued at $21,739,000 after purchasing an additional 195,713 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in shares of Sleep Number by 6.7% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 651,931 shares of the company’s stock valued at $23,978,000 after purchasing an additional 40,829 shares during the period. Finally, Northern Trust Corp raised its position in shares of Sleep Number by 0.6% during the 1st quarter. Northern Trust Corp now owns 538,998 shares of the company’s stock valued at $18,945,000 after purchasing an additional 3,385 shares during the period.

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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