Select Comfort Corp. (SCSS) Updates FY16 Earnings Guidance
Select Comfort Corp. (NASDAQ:SCSS) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.15-1.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.19.
Shares of Select Comfort Corp. (NASDAQ:SCSS) opened at 21.56 on Friday. The stock’s 50 day moving average is $20.91 and its 200-day moving average is $22.97. The company has a market cap of $968.93 million, a P/E ratio of 54.04 and a beta of 0.73. Select Comfort Corp. has a 12 month low of $14.28 and a 12 month high of $28.34.
Select Comfort Corp. (NASDAQ:SCSS) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The company earned $368 million during the quarter, compared to analysts’ expectations of $391.02 million. Select Comfort Corp. had a return on equity of 21.31% and a net margin of 1.56%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. On average, equities analysts forecast that Select Comfort Corp. will post $1.18 EPS for the current year.
A number of research analysts have issued reports on the stock. SunTrust Banks Inc. reaffirmed a neutral rating on shares of Select Comfort Corp. in a report on Wednesday, August 10th. Piper Jaffray Cos. reissued a neutral rating and set a $23.00 target price on shares of Select Comfort Corp. in a report on Friday, July 15th. Zacks Investment Research raised shares of Select Comfort Corp. from a hold rating to a buy rating and set a $26.00 target price for the company in a report on Tuesday, July 19th. Wedbush reissued an outperform rating and set a $25.00 target price on shares of Select Comfort Corp. in a report on Tuesday. Finally, Bank of America Corp. raised shares of Select Comfort Corp. from an underperform rating to a neutral rating in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $26.14.
In other Select Comfort Corp. news, EVP Andrew P. Carlin sold 3,200 shares of Select Comfort Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $28.00, for a total value of $89,600.00. Following the completion of the transaction, the executive vice president now owns 24,910 shares of the company’s stock, valued at $697,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Group LTD raised its stake in shares of Select Comfort Corp. by 5.4% in the second quarter. BlackRock Group LTD now owns 68,843 shares of the company’s stock valued at $1,472,000 after buying an additional 3,554 shares during the period. Alliancebernstein L.P. raised its stake in shares of Select Comfort Corp. by 15.4% in the second quarter. Alliancebernstein L.P. now owns 2,984,022 shares of the company’s stock valued at $63,798,000 after buying an additional 397,774 shares during the period. Cipher Capital LP raised its stake in shares of Select Comfort Corp. by 209.1% in the second quarter. Cipher Capital LP now owns 95,754 shares of the company’s stock valued at $2,048,000 after buying an additional 64,778 shares during the period. Deere & Co. bought a new stake in shares of Select Comfort Corp. during the second quarter valued at about $435,000. Finally, Pacad Investment Ltd. bought a new stake in shares of Select Comfort Corp. during the second quarter valued at about $250,000.
About Select Comfort Corp.
Select Comfort Corporation is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company’s Sleep Number bed offers SleepIQ technology sensors that work directly with the bed’s DualAir technology to monitor each individual’s sleep. The Company also offers a line of sleep products, including FlextFit adjustable base technology and Sleep Number pillows, sheets and other bedding products.
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