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

Tempur Sealy International (NYSE:TPX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.45-$2.65 for the period, compared to the consensus earnings per share estimate of $2.67. Tempur Sealy International also updated its FY 2024 guidance to 2.450-2.650 EPS.

Analyst Upgrades and Downgrades

TPX has been the topic of a number of recent research reports. Wedbush cut their target price on Tempur Sealy International from $55.00 to $52.00 and set an outperform rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on shares of Tempur Sealy International from $65.00 to $58.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Finally, Piper Sandler reissued an overweight rating and set a $61.00 target price on shares of Tempur Sealy International in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $59.71.

Tempur Sealy International Price Performance

TPX opened at $49.60 on Friday. Tempur Sealy International has a 1 year low of $36.12 and a 1 year high of $57.13. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.21 and a quick ratio of 0.70. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.59 and a beta of 1.60. The firm’s fifty day moving average price is $49.27 and its two-hundred day moving average price is $51.16.

Tempur Sealy International (NYSE:TPX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Tempur Sealy International had a net margin of 7.65% and a return on equity of 135.46%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts anticipate that Tempur Sealy International will post 2.61 earnings per share for the current fiscal year.

Tempur Sealy International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 15th. Tempur Sealy International’s dividend payout ratio is presently 25.74%.

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.