Q3 2022 EPS Estimates for Sonos, Inc. Lowered by Jefferies Financial Group (NASDAQ:SONO)

Sonos, Inc. (NASDAQ:SONOGet Rating) – Stock analysts at Jefferies Financial Group reduced their Q3 2022 EPS estimates for shares of Sonos in a research report issued on Thursday, May 12th. Jefferies Financial Group analyst B. Thill now expects that the company will post earnings per share of $0.06 for the quarter, down from their previous estimate of $0.11. Jefferies Financial Group also issued estimates for Sonos’ Q4 2022 earnings at $0.12 EPS and FY2022 earnings at $1.12 EPS.

A number of other equities analysts have also recently commented on SONO. TheStreet cut Sonos from a “b-” rating to a “c” rating in a report on Wednesday. Stifel Nicolaus decreased their target price on Sonos from $40.00 to $34.00 in a report on Thursday, February 10th. DA Davidson decreased their target price on Sonos from $49.00 to $40.00 in a report on Thursday. Finally, Morgan Stanley decreased their target price on Sonos from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, February 3rd.

NASDAQ SONO opened at $22.64 on Friday. Sonos has a 1-year low of $18.92 and a 1-year high of $42.57. The business’s fifty day moving average price is $25.17 and its 200-day moving average price is $27.85. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.20 and a beta of 1.86.

Sonos (NASDAQ:SONOGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Sonos had a return on equity of 39.60% and a net margin of 8.63%. During the same quarter in the previous year, the business posted $0.31 EPS.

Several institutional investors have recently modified their holdings of the company. Zullo Investment Group Inc. purchased a new position in Sonos in the fourth quarter worth about $30,000. Allworth Financial LP grew its position in Sonos by 71.7% in the first quarter. Allworth Financial LP now owns 1,099 shares of the company’s stock worth $31,000 after acquiring an additional 459 shares in the last quarter. KRS Capital Management LLC purchased a new position in Sonos in the fourth quarter worth about $35,000. FourThought Financial LLC purchased a new position in Sonos in the first quarter worth about $37,000. Finally, National Bank of Canada FI purchased a new position in Sonos in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.

In other news, CEO Patrick Spence sold 65,237 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $25.67, for a total transaction of $1,674,633.79. Following the completion of the transaction, the chief executive officer now owns 668,969 shares in the company, valued at $17,172,434.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joanna Coles sold 905 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $27.71, for a total value of $25,077.55. Following the transaction, the director now owns 24,717 shares of the company’s stock, valued at approximately $684,908.07. The disclosure for this sale can be found here. Insiders sold a total of 163,596 shares of company stock valued at $4,139,960 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Sonos Company Profile (Get Rating)

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its Website sonos.com.

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Earnings History and Estimates for Sonos (NASDAQ:SONO)

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