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

Tempur Sealy International (NYSE:TPX - Get Free Report) announced its earnings results on Tuesday. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.02, Briefing.com reports. Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Tempur Sealy International's revenue was down 1.5% compared to the same quarter last year. Tempur Sealy International updated its FY24 guidance to $2.60-2.90 EPS.

Tempur Sealy International Trading Up 0.1 %

NYSE:TPX traded up $0.05 during trading hours on Wednesday, hitting $52.12. 1,658,551 shares of the stock were exchanged, compared to its average volume of 1,679,143. The company's 50 day moving average is $52.83 and its two-hundred day moving average is $48.71. The company has a market capitalization of $9.05 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. Tempur Sealy International has a twelve month low of $34.98 and a twelve month 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 Dividend Announcement

The business 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, May 15th. Tempur Sealy International's dividend payout ratio is currently 25.12%.

Analyst Ratings Changes

A number of analysts have commented on TPX shares. 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 research report on Friday, April 5th. Wedbush reissued an "outperform" rating and issued a $66.00 target price on shares of Tempur Sealy International in a report on Wednesday. Piper Sandler upgraded Tempur Sealy International from a "neutral" rating to an "overweight" rating and upped their price target for the company from $41.00 to $61.00 in a research report on Thursday, January 18th. KeyCorp upped their target price on shares of Tempur Sealy International from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 9th. Finally, Loop Capital raised shares of Tempur Sealy International from a "hold" rating to a "buy" rating and upped their price objective for the stock from $50.00 to $75.00 in a research note on Monday, March 25th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price 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.