Sleep Number Corporation, a leading provider of sleep solutions and services in the United States, is set to release its earnings data on Thursday, July 27th. Analysts have projected that Sleep Number will report earnings of ($0.01) per share for the quarter. Additionally, Sleep Number has issued its FY23 guidance at $1.25-2.00 EPS.
With a vast array of products under the Sleep Number brand name, including beds, pillows, sheets, and other bedding products, as well as innovative offerings like adjustable bases under the FlextFit brand and smart beds under the Climate 360 line, Sleep Number continues to revolutionize the way we sleep.
Recent reports have shown that institutional investors and hedge funds have made significant changes to their positions in Sleep Number. Rice Hall James & Associates LLC boosted its stake in shares of Sleep Number by 1.7% during the first quarter. With an additional acquisition of 4,545 shares during the last quarter, their total ownership now stands at 272,926 shares worth $13,840,000.
JPMorgan Chase & Co., another major institutional investor, also increased its stake in Sleep Number by 2.7% during the first quarter. Their ownership now amounts to 165,053 shares worth $8,371,000 after acquiring an additional 4,368 shares.
Similarly, Raymond James & Associates witnessed substantial growth in their stake in Sleep Number during the first quarter. Their ownership soared by an impressive 287.9%, with an acquisition of an additional 32,291 shares. Currently holding 43,507 shares worth $2,206,000.
Bank of New York Mellon Corp also displayed confidence in Sleep Number’s performance by growing its stake by 1.9% during the first quarter through an acquisition of 4,901 shares – bringing their total ownership to 269570 shares valued at $13:671:000.
Lastly, Citigroup Inc. demonstrated its faith in Sleep Number by increasing its stake in the company by 4.8% during the first quarter, acquiring an additional 1,015 shares. Their current ownership amounts to 22,230 shares worth $1,127,000.
These transactions indicate strong confidence from institutional investors in Sleep Number’s future growth potential. With a diverse range of products and innovative solutions designed to enhance sleep quality and comfort, Sleep Number continues to attract significant attention from investors.
As the release date of Sleep Number’s earnings data approaches, individuals interested in gaining further insight into the company’s financial performance can register for the upcoming earnings conference call using the provided link. This conference call provides an opportunity for shareholders and prospective investors to gain valuable information directly from Sleep Number’s executives.
In conclusion, as Sleep Number prepares to release its earnings data, all eyes are on this leading sleep solutions provider. With a strong lineup of products and services and growing interest from institutional investors and hedge funds alike, there is great anticipation for the upcoming announcement on Thursday, July 27th.
Sleep Number Corporation
Updated on: 03/12/2023
Debt to equity ratio: Strong Sell
Price to earnings ratio: Strong Sell
Price to book ratio: Sell
DCF: Strong Buy
3:00 PM (UTC)
Date:02 December, 2023
|Analyst / firm||Rating|
Sleep Number’s Earnings Report Sparks Interest and Concern
Sleep Number (NASDAQ:SNBR) recently released its earnings report for the quarter ended April 26th, 2023. The company surpassed analysts’ expectations with an EPS of $0.51, beating consensus estimates of $0.35 by a significant margin of $0.16. This impressive performance has sparked interest among investors and industry experts as they analyze the financial trajectory of Sleep Number.
The net margin for Sleep Number stood at 2.18%, indicating a modest profitability level for the company. However, there is cause for concern as the return on equity was negative at 10.55%. It is crucial to understand the reasons behind this negative figure and how it may impact future growth prospects.
Despite beating earnings estimates, Sleep Number reported a decline in revenue with $526.53 million for the quarter compared to analysts’ projections of $533.11 million. This decrease can be attributed to various factors that need careful evaluation and consideration by investors.
When comparing year-over-year data, Sleep Number experienced a slight dip in revenue growth of 0.1% during the same quarter last year. This performance raises questions about the company’s ability to maintain steady growth rates in a competitive market.
Looking ahead, analysts anticipate earnings per share (EPS) of $1 for the current fiscal year and project an increase to $2 EPS in the following fiscal year, demonstrating cautious optimism about Sleep Number’s future prospects.
Sleep Number’s stock opened at $39.22 on July 20th, 2023, on NASDAQ (SNBR). Its price has fluctuated significantly over the past year, with a low of $17.50 and a high of $50.61 during this period. These price movements highlight volatility within the market and may affect investor sentiment towards Sleep Number.
With a market capitalization of $870.06 million, Sleep Number holds a reasonable valuation relative to its earnings potential and industry peers. The price-to-earnings ratio (P/E) stands at 19.32, which suggests that investors have priced the company’s stock at a premium compared to its earnings per share.
Risk assessment is crucial in understanding the market dynamics of Sleep Number. The beta value of 1.95 indicates that the stock is significantly more volatile compared to the broader market. This information should be taken into account by potential investors when formulating investment strategies.
Several research analysts have recently shared their thoughts on Sleep Number’s stock performance and outlook. Piper Sandler, for instance, revised its target price from $36.00 to $30.00 in their report on April 27th, signaling a downward revision in expectations. On the other hand, Wedbush lifted its price objective from $27.00 to $33.00, suggesting a more positive sentiment towards Sleep Number’s potential growth opportunities.
However, it is important to note that StockNews.com downgraded Sleep Number’s rating from “buy” to “hold” in a research note on June 27th. This conflicting opinion adds complexity and uncertainty to investors’ decision-making process.
In conclusion, Sleep Number’s recent earnings report has generated interest and debate within the financial community due to its positive EPS performance but declining revenue figures. Investors need to carefully evaluate key financial indicators such as net margin and return on equity while closely monitoring market trends before making informed decisions about investing in Sleep Number.