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

Tempur Sealy International (NYSE:TPX) posted its earnings results on Thursday. The company reported $0.82 EPS for the quarter, topping 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 analysts’ expectations of $1.29 billion. Tempur Sealy International had a net margin of 7.65% and a return on equity of 135.46%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business 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 Trading Up 0.8 %

NYSE:TPX traded up $0.42 on Friday, reaching $54.42. 1,915,544 shares of the stock traded hands, compared to its average volume of 1,574,295. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.60. The company’s 50 day moving average is $51.14 and its 200-day moving average is $50.51. The company has a current ratio of 1.21, a quick ratio of 0.68 and a debt-to-equity ratio of 5.92. Tempur Sealy International has a 1-year low of $36.12 and a 1-year high of $57.13.

Tempur Sealy International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 21st. Tempur Sealy International’s dividend payout ratio is presently 24.76%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TPX. Raymond James lowered their price objective on Tempur Sealy International from $57.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Friday, November 1st. Wedbush upped their price objective on Tempur Sealy International from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday. One equities 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. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $60.67.

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.