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

Tempur Sealy International (NYSE:TPX) announced its quarterly earnings data on Tuesday. The company reported $0.50 EPS for the quarter, beating the consensus estimate 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%. Tempur Sealy International’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Tempur Sealy International updated its FY24 guidance to $2.60-2.90 EPS.

Tempur Sealy International Price Performance

Shares of Tempur Sealy International stock traded down $0.62 on Wednesday, hitting $51.45. 520,039 shares of the company traded hands, compared to its average volume of 1,666,146. The stock has a market capitalization of $8.93 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.68 and a current ratio of 1.21. Tempur Sealy International has a 52 week low of $34.98 and a 52 week high of $57.13. The business has a 50-day simple moving average of $52.83 and a 200 day simple moving average of $48.71.

Tempur Sealy International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.13 per share. 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 payout ratio is currently 25.12%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TPX shares. Piper Sandler upgraded shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $61.00 in a report on Thursday, January 18th. Loop Capital raised Tempur Sealy International from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $75.00 in a report on Monday, March 25th. KeyCorp raised their price target on shares of Tempur Sealy International from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Truist Financial raised 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. Finally, Raymond James increased their price objective on shares of Tempur Sealy International from $45.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $62.71.

Tempur Sealy International Company Profile

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.