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 Trading Up 5.7 %

TPX opened at $53.00 on Tuesday. Tempur Sealy International has a 52-week low of $34.98 and a 52-week high of $57.13. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 7.81. The firm has a market capitalization of $9.20 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.17 and a beta of 1.58. The firm’s 50 day moving average is $52.87 and its 200-day moving average is $48.63.

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

Tempur Sealy International Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on TPX shares. KeyCorp boosted their price objective on shares of Tempur Sealy International from $56.00 to $60.00 and gave the company an overweight rating in a research report on Friday, February 9th. Truist Financial upped their target price on Tempur Sealy International from $60.00 to $65.00 and gave the company a buy rating in a research note on Friday, April 5th. Wedbush reaffirmed an outperform rating and issued a $66.00 price target on shares of Tempur Sealy International in a research note on Tuesday, April 30th. Piper Sandler raised 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 research note on Thursday, January 18th. Finally, Raymond James upped their price target on shares of Tempur Sealy International from $45.00 to $58.00 and gave the stock a strong-buy rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently 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.