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

Wall Street analysts forecast that Sleep Number Corp (NASDAQ:SNBR) will announce sales of $230.62 million for the current quarter, Zacks reports. Five analysts have issued estimates for Sleep Number’s earnings. The lowest sales estimate is $198.00 million and the highest is $281.40 million. Sleep Number reported sales of $355.96 million during the same quarter last year, which indicates a negative year-over-year growth rate of 35.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Sleep Number will report full-year sales of $1.52 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.64 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.68 billion, with estimates ranging from $1.55 billion to $1.82 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Sleep Number.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.64. The firm had revenue of $473.00 million during the quarter, compared to the consensus estimate of $433.19 million. Sleep Number had a negative return on equity of 59.24% and a net margin of 5.48%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share.

A number of equities analysts have commented on SNBR shares. BidaskClub upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Saturday. ValuEngine upgraded shares of Sleep Number from a “sell” rating to a “hold” rating in a report on Monday, June 1st. UBS Group reduced their target price on shares of Sleep Number from $34.00 to $18.00 and set a “sell” rating for the company in a report on Monday, March 30th. Wedbush boosted their target price on shares of Sleep Number from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, TheStreet upgraded shares of Sleep Number from a “c” rating to a “b-” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $38.38.

Shares of SNBR stock traded down $1.77 on Friday, hitting $41.23. The stock had a trading volume of 558,798 shares, compared to its average volume of 456,919. The company has a market cap of $1.14 billion, a PE ratio of 12.65, a P/E/G ratio of 2.60 and a beta of 2.20. The business has a 50 day moving average price of $35.12 and a 200 day moving average price of $39.56. Sleep Number has a one year low of $15.27 and a one year high of $61.00.

In related news, CAO Robert Joseph Poirier sold 2,786 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available at this link. 6.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. purchased a new stake in Sleep Number in the 4th quarter worth approximately $269,000. Victory Capital Management Inc. boosted its position in Sleep Number by 9.0% in the 4th quarter. Victory Capital Management Inc. now owns 6,008 shares of the company’s stock worth $310,000 after purchasing an additional 497 shares in the last quarter. Rhumbline Advisers boosted its position in Sleep Number by 5.7% in the 4th quarter. Rhumbline Advisers now owns 93,688 shares of the company’s stock worth $4,613,000 after purchasing an additional 5,026 shares in the last quarter. State of Tennessee Treasury Department boosted its position in Sleep Number by 78.6% in the 4th quarter. State of Tennessee Treasury Department now owns 23,785 shares of the company’s stock worth $1,171,000 after purchasing an additional 10,471 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Sleep Number by 388.1% in the 4th quarter. Royce & Associates LP now owns 5,462 shares of the company’s stock worth $269,000 after purchasing an additional 4,343 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.

Featured Story: Cost of Capital Explained

Get a free copy of the Zacks research report on Sleep Number (SNBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Sleep Number Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sleep Number and related companies with MarketBeat.com's FREE daily email newsletter.