Research Analysts Set Expectations for Sleep Number Corp’s FY2019 Earnings (NASDAQ:SNBR)

Sleep Number Corp (NASDAQ:SNBR) – Wedbush upped their FY2019 earnings estimates for Sleep Number in a report released on Wednesday, October 16th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $2.58 for the year, up from their prior estimate of $2.49. Wedbush currently has a “Neutral” rating and a $45.00 price objective on the stock. Wedbush also issued estimates for Sleep Number’s Q4 2019 earnings at $0.75 EPS, Q1 2020 earnings at $0.87 EPS, Q2 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.90 EPS and FY2021 earnings at $3.23 EPS.

Sleep Number (NASDAQ:SNBR) last released its earnings results on Tuesday, October 15th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.15. The company had revenue of $474.78 million during the quarter, compared to analyst estimates of $462.06 million. Sleep Number had a negative return on equity of 60.10% and a net margin of 5.08%. Sleep Number’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share.

SNBR has been the subject of several other reports. Raymond James raised Sleep Number from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a report on Wednesday, October 9th. TheStreet raised Sleep Number from a “c+” rating to a “b-” rating in a report on Wednesday. UBS Group increased their price objective on Sleep Number from $27.00 to $29.00 and gave the company a “sell” rating in a report on Wednesday. Piper Jaffray Companies increased their price objective on Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, SunTrust Banks increased their price objective on Sleep Number to $43.00 and gave the company a “hold” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.75.

SNBR stock opened at $48.73 on Friday. The firm has a market cap of $1.42 billion, a PE ratio of 25.38, a P/E/G ratio of 1.56 and a beta of 1.14. The business has a 50 day moving average of $42.39 and a 200-day moving average of $40.99. Sleep Number has a 12-month low of $30.44 and a 12-month high of $52.08.

Several large investors have recently bought and sold shares of the business. Nuveen Asset Management LLC purchased a new stake in shares of Sleep Number during the second quarter worth $24,372,000. Canada Pension Plan Investment Board lifted its position in shares of Sleep Number by 1,345.7% during the second quarter. Canada Pension Plan Investment Board now owns 488,720 shares of the company’s stock worth $19,739,000 after acquiring an additional 454,914 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Sleep Number by 12.9% during the second quarter. Wasatch Advisors Inc. now owns 461,620 shares of the company’s stock worth $18,645,000 after acquiring an additional 52,873 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Sleep Number by 110.2% during the second quarter. APG Asset Management N.V. now owns 222,000 shares of the company’s stock worth $7,874,000 after acquiring an additional 116,400 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Sleep Number during the second quarter worth $6,999,000.

In other Sleep Number news, Director Jean Michel Valette sold 25,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $51.50, for a total transaction of $1,287,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shelly Radue Ibach sold 40,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $48.87, for a total value of $1,954,800.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

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.

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

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