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

Tempur Sealy International (NYSE:TPX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.60-2.90 for the period, compared to the consensus earnings per share 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 $0.05 on Wednesday, reaching $52.12. The stock had a trading volume of 1,658,551 shares, compared to its average volume of 1,679,143. The firm has a market capitalization of $9.05 billion, a PE ratio of 24.80, a PEG ratio of 1.17 and a beta of 1.58. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 7.81. The firm has a 50-day moving average of $52.83 and a 200 day moving average of $48.71. Tempur Sealy International has a twelve month low of $34.98 and a twelve month high of $57.13.

Tempur Sealy International (NYSE:TPX) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Sell-side analysts expect that Tempur Sealy International will post 2.75 EPS for the current year.

Tempur Sealy International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, May 15th. Tempur Sealy International’s payout ratio is currently 25.12%.

Analyst Upgrades and Downgrades

TPX has been the topic of a number of recent analyst reports. Raymond James increased their price target on Tempur Sealy International from $45.00 to $58.00 and gave the stock a strong-buy rating in a research note on Friday, January 19th. Wedbush reaffirmed an outperform rating and issued a $66.00 target price on shares of Tempur Sealy International in a research report on Wednesday. KeyCorp increased their target price 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. Loop Capital raised Tempur Sealy International from a hold rating to a buy rating and increased their target price for the stock from $50.00 to $75.00 in a research report on Monday, March 25th. Finally, Piper Sandler raised Tempur Sealy International from a neutral rating to an overweight rating and increased their target price for the stock from $41.00 to $61.00 in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tempur Sealy International presently has a consensus 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.