Tempur Sealy International (NYSE:TPX) Announces Earnings Results

Tempur Sealy International (NYSE:TPX) posted its quarterly earnings data on Thursday. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01, Briefing.com reports. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. Tempur Sealy International updated its FY24 guidance to $2.45-$2.55 EPS and its FY 2024 guidance to 2.450-2.550 EPS.

Tempur Sealy International Stock Performance

TPX stock traded up $0.42 during trading on Friday, hitting $54.42. 1,982,083 shares of the company traded hands, compared to its average volume of 1,574,602. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.21 and a quick ratio of 0.68. The stock’s 50-day simple moving average is $51.14 and its 200 day simple moving average is $50.51. Tempur Sealy International has a 1 year low of $36.12 and a 1 year high of $57.13. The company has a market cap of $9.45 billion, a PE ratio of 25.90, a P/E/G ratio of 2.14 and a beta of 1.60.

Tempur Sealy International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.13 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. Tempur Sealy International’s payout ratio is currently 24.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TPX shares. Raymond James reduced their price target on shares of Tempur Sealy International from $57.00 to $55.00 and set a “strong-buy” rating for the company in a research report on Friday, November 1st. Wedbush upped their price objective on Tempur Sealy International from $49.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tempur Sealy International has a consensus rating of “Buy” and an average target price of $60.67.

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.