$331.14 Million in Sales Expected for Sleep Number Corp (SNBR) This Quarter

Wall Street brokerages expect Sleep Number Corp (NASDAQ:SNBR) to report $331.14 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Sleep Number’s earnings, with the lowest sales estimate coming in at $326.20 million and the highest estimate coming in at $335.40 million. Sleep Number posted sales of $313.45 million during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is expected to report its next quarterly earnings report on Wednesday, February 14th.

On average, analysts expect that Sleep Number will report full-year sales of $331.14 million for the current year, with estimates ranging from $1.41 billion to $1.42 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.51 billion per share, with estimates ranging from $1.49 billion to $1.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Sleep Number.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Tuesday, October 17th. The company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.06). The company had revenue of $402.64 million for the quarter, compared to the consensus estimate of $413.89 million. Sleep Number had a net margin of 4.34% and a return on equity of 51.12%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS.

Several brokerages have recently commented on SNBR. Zacks Investment Research downgraded shares of Sleep Number from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Jaffray Companies set a $38.00 target price on shares of Sleep Number and gave the company a “buy” rating in a research note on Wednesday, October 11th. Raymond James Financial raised shares of Sleep Number from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Monday, October 2nd. KeyCorp reaffirmed a “hold” rating on shares of Sleep Number in a research note on Friday, September 29th. Finally, Bank of America set a $33.00 target price on shares of Sleep Number and gave the company a “hold” rating in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.67.

Sleep Number (SNBR) opened at $37.62 on Friday. Sleep Number has a 52-week low of $18.89 and a 52-week high of $38.85. The firm has a market cap of $1,500.00, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.61.

In other news, SVP Patricia Ann Dirks sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $34.75, for a total value of $34,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark A. Kimball sold 8,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.07, for a total transaction of $256,560.00. Following the completion of the sale, the senior vice president now owns 56,186 shares of the company’s stock, valued at approximately $1,801,885.02. The disclosure for this sale can be found here. Insiders have sold a total of 36,560 shares of company stock valued at $1,224,334 in the last quarter. 4.00% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN purchased a new stake in Sleep Number during the 3rd quarter worth approximately $114,107,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sleep Number by 856.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,065,008 shares of the company’s stock valued at $37,797,000 after acquiring an additional 953,666 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Sleep Number by 768.3% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 298,048 shares of the company’s stock valued at $10,577,000 after acquiring an additional 263,723 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Sleep Number in the 2nd quarter valued at $5,983,000. Finally, Teachers Advisors LLC boosted its holdings in shares of Sleep Number by 116.7% in the 2nd quarter. Teachers Advisors LLC now owns 282,162 shares of the company’s stock valued at $10,014,000 after acquiring an additional 151,952 shares during the last quarter.

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About Sleep Number

Sleep Number Corporation, formerly 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.

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