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

Tempur Sealy International (NYSE:TPX - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.60-2.90 for the period, compared to the consensus 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 Price Performance

Shares of TPX traded up $1.94 on Tuesday, hitting $52.07. The company's stock had a trading volume of 2,951,377 shares, compared to its average volume of 1,679,378. The company has a 50 day moving average price of $52.87 and a 200 day moving average price of $48.63. Tempur Sealy International has a fifty-two week low of $34.98 and a fifty-two week high of $57.13. The company has a market capitalization of $9.04 billion, a PE ratio of 25.91, a PEG ratio of 1.17 and a beta of 1.58. The company has a debt-to-equity ratio of 7.81, a current ratio of 1.21 and a quick ratio of 0.68.

Tempur Sealy International (NYSE:TPX - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.01). Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm posted $0.54 EPS. Tempur Sealy International's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts anticipate that Tempur Sealy International will post 2.75 earnings per share for the current fiscal year.

Tempur Sealy International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were paid a $0.13 dividend. The ex-dividend date was Wednesday, February 21st. This is an increase from Tempur Sealy International's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.00%. Tempur Sealy International's payout ratio is currently 25.12%.

Analyst Ratings Changes

A number of analysts recently weighed in on TPX shares. Wedbush reissued an outperform rating and issued a $66.00 price target on shares of Tempur Sealy International in a report on Tuesday, April 30th. Piper Sandler upgraded Tempur Sealy International from a neutral rating to an overweight rating and raised their price target for the company from $41.00 to $61.00 in a report on Thursday, January 18th. KeyCorp lifted their price objective on Tempur Sealy International from $56.00 to $60.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Truist Financial upped their target price on shares of Tempur Sealy International from $60.00 to $65.00 and gave the company a buy rating in a research report on Friday, April 5th. Finally, Raymond James lifted 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 investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and an average 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.