Tempur Sealy International (NYSE:TPX) Releases Earnings Results, Beats Estimates By $0.01 EPS

Tempur Sealy International (NYSE:TPX) posted its quarterly earnings results 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 firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. 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 Price Performance

Shares of TPX traded up $0.42 during midday 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 stock has a 50-day moving average of $51.14 and a 200-day moving average of $50.51. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.21 and a quick ratio of 0.68. Tempur Sealy International has a one year low of $36.12 and a one year high of $57.13. The firm has a market cap of $9.45 billion, a P/E ratio of 25.90, a PEG ratio of 2.14 and a beta of 1.60.

Tempur Sealy International Dividend Announcement

The firm also recently announced 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 of this dividend is Thursday, November 21st. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. Tempur Sealy International’s payout ratio is 24.76%.

Analysts Set New Price Targets

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