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

Tempur Sealy International (NYSE:TPX) released its earnings results on Tuesday. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02, Briefing.com reports. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 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 1.5% on a year-over-year basis. 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 Stock Performance

Tempur Sealy International stock traded down $0.62 during mid-day trading on Wednesday, reaching $51.45. 520,039 shares of the company’s stock were exchanged, compared to its average volume of 1,666,146. The business’s fifty day simple moving average is $52.83 and its 200 day simple moving average is $48.71. The firm has a market capitalization of $8.93 billion, a PE ratio of 24.80, a P/E/G ratio of 1.17 and a beta of 1.58. Tempur Sealy International has a one year low of $34.98 and a one year 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.

Tempur Sealy International Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TPX shares. Raymond James boosted their target price on shares of Tempur Sealy International from $45.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Friday, January 19th. Piper Sandler upgraded shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $61.00 in a report on Thursday, January 18th. KeyCorp raised their target price on Tempur Sealy International from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Truist Financial upped their price target on Tempur Sealy International from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Wedbush restated an “outperform” rating and set a $66.00 price objective on shares of Tempur Sealy International in a report on Wednesday. One 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.