Sonos (SONO) Scheduled to Post Earnings on Wednesday

Posted by Defense World Staff on Aug 2nd, 2023

Sonos (NASDAQ:SONO – Get Free Report) is set to release its earnings data after the market closes on Wednesday, August 9th. Analysts expect Sonos to post earnings of $0.00 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Sonos (NASDAQ:SONO – Get Free Report) last released its earnings results on Wednesday, May 10th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Sonos had a negative return on equity of 3.29% and a negative net margin of 1.21%. The firm had revenue of $304.17 million for the quarter, compared to the consensus estimate of $293.82 million. On average, analysts expect Sonos to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Sonos Trading Up 0.9 %

NASDAQ SONO opened at $17.29 on Wednesday. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -101.70, a PEG ratio of 57.62 and a beta of 1.86. Sonos has a 12 month low of $13.65 and a 12 month high of $24.56. The company’s 50 day moving average is $16.08 and its two-hundred day moving average is $18.18.

Insider Buying and Selling at Sonos

In other Sonos news, insider Maxime Bouvat-Merlin sold 6,060 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $15.41, for a total transaction of $93,384.60. Following the transaction, the insider now owns 29,177 shares in the company, valued at $449,617.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,870 shares of company stock worth $121,820 over the last quarter. Insiders own 3.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its holdings in shares of Sonos by 5.5% in the first quarter. Ameritas Investment Partners Inc. now owns 9,948 shares of the company’s stock worth $281,000 after purchasing an additional 519 shares during the last quarter. ProShare Advisors LLC lifted its stake in Sonos by 3.8% in the first quarter. ProShare Advisors LLC now owns 20,895 shares of the company’s stock worth $410,000 after acquiring an additional 762 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Sonos by 74.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,826 shares of the company’s stock worth $25,000 after acquiring an additional 777 shares during the period. Centaurus Financial Inc. lifted its stake in Sonos by 23.4% in the first quarter. Centaurus Financial Inc. now owns 4,481 shares of the company’s stock worth $126,000 after acquiring an additional 849 shares during the period. Finally, US Bancorp DE lifted its stake in Sonos by 30.9% in the first quarter. US Bancorp DE now owns 4,646 shares of the company’s stock worth $131,000 after acquiring an additional 1,098 shares during the period. 85.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reduced their price objective on shares of Sonos from $24.00 to $22.00 in a research report on Thursday, June 15th.

About Sonos

(Get Free Report)

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.