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

Tempur Sealy International Price Performance

Tempur Sealy International stock traded up $0.20 during mid-day trading on Friday, reaching $54.19. The company had a trading volume of 181,030 shares, compared to its average volume of 1,661,424. 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 stock’s 50-day simple moving average is $52.80 and its 200-day simple moving average is $48.77. Tempur Sealy International has a 1 year low of $34.98 and a 1 year high of $57.13. The company has a market capitalization of $9.41 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.17 and a beta of 1.58.

Tempur Sealy International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. Tempur Sealy International’s dividend payout ratio (DPR) is presently 25.12%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TPX shares. KeyCorp boosted 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 raised their price objective on Tempur Sealy International from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Piper Sandler upgraded shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $61.00 in a report on Thursday, January 18th. Raymond James increased their target price on 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $66.00 target price on shares of Tempur Sealy International in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus 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.