Sleep Number Corp Expected to Post FY2019 Earnings of $2.59 Per Share (NASDAQ:SNBR)

Sleep Number Corp (NASDAQ:SNBR) – Analysts at SunTrust Banks boosted their FY2019 earnings estimates for shares of Sleep Number in a report issued on Wednesday, October 16th. SunTrust Banks analyst K. Hughes now expects that the company will earn $2.59 per share for the year, up from their previous estimate of $2.57. SunTrust Banks currently has a “Hold” rating and a $43.00 target price on the stock. SunTrust Banks also issued estimates for Sleep Number’s Q4 2019 earnings at $0.71 EPS, Q3 2020 earnings at $1.07 EPS, Q4 2020 earnings at $0.92 EPS and FY2020 earnings at $2.96 EPS.

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

A number of other research firms also recently weighed in on SNBR. Zacks Investment Research upgraded Sleep Number from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Friday. ValuEngine downgraded Sleep Number from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. UBS Group raised their price target on Sleep Number from $27.00 to $29.00 and gave the company a “sell” rating in a research report on Wednesday. Piper Jaffray Companies raised their price target on Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, BidaskClub upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Saturday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.75.

NASDAQ SNBR opened at $48.73 on Friday. The stock’s 50-day simple moving average is $42.39 and its two-hundred day simple moving average is $40.99. Sleep Number has a twelve month low of $30.44 and a twelve month high of $52.08. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.56 and a beta of 1.14.

In other news, Director Jean Michel Valette sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.50, for a total transaction of $1,287,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shelly Radue Ibach sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were 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 company insiders.

Large investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its stake in shares of Sleep Number by 11.7% in the second quarter. Wedge Capital Management L L P NC now owns 8,569 shares of the company’s stock worth $346,000 after purchasing an additional 897 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Sleep Number by 121.7% in the second quarter. Advisor Group Inc. now owns 8,784 shares of the company’s stock worth $355,000 after purchasing an additional 4,822 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Sleep Number by 1,345.7% in the second quarter. Canada Pension Plan Investment Board now owns 488,720 shares of the company’s stock worth $19,739,000 after purchasing an additional 454,914 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Sleep Number in the second quarter worth about $2,472,000. Finally, Maverick Capital Ltd. grew its stake in shares of Sleep Number by 47.5% in the second quarter. Maverick Capital Ltd. now owns 52,590 shares of the company’s stock worth $2,124,000 after purchasing an additional 16,927 shares during 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.

Further Reading: Why investors pay attention to retained earnings

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.