$524.05 Million in Sales Expected for Sleep Number Co. (NASDAQ:SNBR) This Quarter

Brokerages forecast that Sleep Number Co. (NASDAQ:SNBRGet Rating) will announce sales of $524.05 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Sleep Number’s earnings, with estimates ranging from $495.90 million to $536.90 million. Sleep Number reported sales of $484.32 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Sleep Number will report full year sales of $2.37 billion for the current financial year, with estimates ranging from $2.32 billion to $2.40 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.46 billion, with estimates ranging from $2.44 billion to $2.49 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Sleep Number.

Sleep Number (NASDAQ:SNBRGet Rating) last announced its earnings results on Wednesday, April 20th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.24). Sleep Number had a net margin of 4.16% and a negative return on equity of 20.53%. The business had revenue of $527.13 million for the quarter, compared to the consensus estimate of $534.38 million. During the same period in the prior year, the business posted $2.51 EPS. Sleep Number’s revenue for the quarter was down 7.2% on a year-over-year basis.

SNBR has been the subject of several recent analyst reports. Bank of America decreased their price target on Sleep Number from $55.00 to $45.00 and set an “underperform” rating for the company in a research note on Monday, April 18th. UBS Group reduced their price target on shares of Sleep Number from $80.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, February 24th. Zacks Investment Research raised shares of Sleep Number from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 31st. Wedbush dropped their target price on shares of Sleep Number from $80.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, March 28th. Finally, Piper Sandler lowered shares of Sleep Number from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $49.00 in a research note on Thursday, April 21st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.80.

Shares of Sleep Number stock opened at $41.20 on Monday. Sleep Number has a 1 year low of $38.86 and a 1 year high of $121.98. The firm’s 50-day moving average is $46.17 and its 200 day moving average is $62.88. The stock has a market cap of $915.96 million, a price-to-earnings ratio of 11.26, a PEG ratio of 0.66 and a beta of 1.69.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNBR. PRW Wealth Management LLC purchased a new stake in Sleep Number in the 4th quarter worth $3,042,000. SG Americas Securities LLC boosted its stake in Sleep Number by 206.4% during the fourth quarter. SG Americas Securities LLC now owns 22,472 shares of the company’s stock valued at $1,721,000 after buying an additional 15,138 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Sleep Number by 88.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,674 shares of the company’s stock valued at $1,584,000 after buying an additional 9,695 shares during the last quarter. Gladius Capital Management LP purchased a new position in Sleep Number during the 4th quarter valued at approximately $91,000. Finally, CNA Financial Corp increased its stake in Sleep Number by 7.0% in the 4th quarter. CNA Financial Corp now owns 10,980 shares of the company’s stock worth $841,000 after acquiring an additional 720 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors.

About Sleep Number (Get Rating)

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides adjustable bases under the FlextFit, and smart beds under the Sleep Number 360 brands.

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