Tempur Sealy International (NYSE:TPX) Posts Earnings Results, Beats Estimates By $0.02 EPS

Tempur Sealy International (NYSE:TPX) posted its quarterly earnings data on Tuesday. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02, Briefing.com reports. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.21 billion. Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Tempur Sealy International updated its FY24 guidance to $2.60-2.90 EPS.

Tempur Sealy International Price Performance

Shares of TPX stock traded down $0.58 during mid-day trading on Wednesday, hitting $51.49. The company had a trading volume of 458,406 shares, compared to its average volume of 1,665,658. Tempur Sealy International has a 52-week low of $34.98 and a 52-week high of $57.13. The stock’s 50 day moving average price is $52.83 and its 200-day moving average price is $48.71. The company has a debt-to-equity ratio of 7.81, a current ratio of 1.21 and a quick ratio of 0.68. The company has a market capitalization of $8.94 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.17 and a beta of 1.58.

Tempur Sealy International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, May 15th. Tempur Sealy International’s dividend payout ratio (DPR) is presently 25.12%.

Wall Street Analyst Weigh In

TPX has been the topic of a number of research reports. Piper Sandler raised shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $61.00 in a report on Thursday, January 18th. Loop Capital raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $75.00 in a report on Monday, March 25th. Truist Financial lifted their price target on shares of Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed an “outperform” rating and set a $66.00 price target on shares of Tempur Sealy International in a report on Wednesday. Finally, Raymond James lifted their price target on shares of Tempur Sealy International from $45.00 to $58.00 and gave the company a “strong-buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $62.71.

About Tempur Sealy International

Tempur Sealy International, Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names.