Tempur Sealy International (NYSE:TPX) Updates FY24 Earnings Guidance

Tempur Sealy International (NYSE:TPX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.60-2.90 for the period, compared to the consensus earnings per share estimate of $2.74. The company issued revenue guidance of low to mid-single digit yr/yr growth, compared to the consensus revenue estimate of $5.09 billion.

Tempur Sealy International Stock Performance

TPX opened at $53.00 on Tuesday. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.68 and a current ratio of 1.21. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.17 and a beta of 1.58. The company has a fifty day moving average of $52.87 and a 200 day moving average of $48.63. Tempur Sealy International has a fifty-two week low of $34.98 and a fifty-two week high of $57.13.

Tempur Sealy International (NYSE:TPX) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. As a group, sell-side analysts forecast that Tempur Sealy International will post 2.75 earnings per share for the current fiscal year.

Tempur Sealy International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were paid a $0.13 dividend. This is an increase from Tempur Sealy International’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, February 21st. Tempur Sealy International’s dividend payout ratio is currently 25.12%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPX. Wedbush restated an outperform rating and issued a $66.00 price objective on shares of Tempur Sealy International in a report on Tuesday, April 30th. Truist Financial boosted their price target on Tempur Sealy International from $60.00 to $65.00 and gave the stock a buy rating in a research report on Friday, April 5th. KeyCorp raised their price objective on Tempur Sealy International from $56.00 to $60.00 and gave the company an overweight rating in a research report on Friday, February 9th. Loop Capital upgraded shares of Tempur Sealy International from a hold rating to a buy rating and boosted their target price for the stock from $50.00 to $75.00 in a report on Monday, March 25th. Finally, Piper Sandler upgraded shares of Tempur Sealy International from a neutral rating to an overweight rating and raised their price target for the company from $41.00 to $61.00 in a report on Thursday, January 18th. One research 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. Based on data from MarketBeat, Tempur Sealy International has an average rating of Buy and an average price target 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.