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

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Sleep Number Corp (NASDAQ:SNBR) – Research analysts at Wedbush increased their FY2019 earnings estimates for Sleep Number in a research report issued to clients and investors on Wednesday, October 16th. Wedbush analyst S. Basham now anticipates that the company will post earnings of $2.58 per share for the year, up from their prior estimate of $2.49. Wedbush currently has a “Neutral” rating and a $45.00 price target 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 announced 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 firm had revenue of $474.78 million for the quarter, compared to analysts’ expectations of $462.06 million. Sleep Number had a net margin of 5.08% and a negative return on equity of 60.10%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS.

SNBR has been the topic of several other reports. SunTrust Banks upped their price target on shares of Sleep Number to $43.00 and gave the company a “hold” rating in a report on Friday, July 26th. TheStreet upgraded shares of Sleep Number from a “c+” rating to a “b-” rating in a report on Wednesday. ValuEngine downgraded shares of Sleep Number from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Raymond James upgraded shares of Sleep Number from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Wednesday, October 9th. Finally, Piper Jaffray Companies upped their price target on shares of Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.75.

Shares of NASDAQ:SNBR opened at $48.73 on Friday. 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. Sleep Number has a 12 month low of $30.44 and a 12 month high of $52.08. The firm’s 50-day moving average is $42.39 and its 200 day moving average is $40.99.

In other Sleep Number news, insider Shelly Radue Ibach sold 40,000 shares of the company’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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jean Michel Valette sold 25,000 shares of the company’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 disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. boosted its stake in shares of Sleep Number by 2.0% during the second quarter. UBS Asset Management Americas Inc. now owns 20,534 shares of the company’s stock valued at $829,000 after purchasing an additional 409 shares in the last quarter. Bridge City Capital LLC boosted its stake in shares of Sleep Number by 0.5% during the second quarter. Bridge City Capital LLC now owns 99,332 shares of the company’s stock valued at $4,012,000 after purchasing an additional 483 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Sleep Number by 9.2% during the second quarter. Eqis Capital Management Inc. now owns 7,477 shares of the company’s stock valued at $302,000 after purchasing an additional 631 shares in the last quarter. CWM Advisors LLC boosted its stake in shares of Sleep Number by 16.6% during the second quarter. CWM Advisors LLC now owns 5,170 shares of the company’s stock valued at $209,000 after purchasing an additional 737 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Sleep Number by 6.7% during the second quarter. Aperio Group LLC now owns 12,654 shares of the company’s stock valued at $511,000 after purchasing an additional 793 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.

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

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