Tempur Sealy International (NYSE:TPX) Issues 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

NYSE:TPX traded up $0.28 during trading hours on Friday, reaching $54.27. 269,276 shares of the company traded hands, compared to its average volume of 1,661,978. 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 has a 1-year low of $34.98 and a 1-year high of $57.13. The firm’s 50-day moving average is $52.80 and its 200-day moving average is $48.77. The stock has a market cap of $9.42 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.17 and a beta of 1.58.

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

Tempur Sealy International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, May 15th. Tempur Sealy International’s dividend payout ratio (DPR) is 25.12%.

Analysts Set New Price Targets

Several equities 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 research note on Wednesday. Raymond James upped 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. Loop Capital raised shares of Tempur Sealy International from a hold rating to a buy rating and boosted their price objective for the company from $50.00 to $75.00 in a research note on Monday, March 25th. Piper Sandler upgraded Tempur Sealy International from a neutral rating to an overweight rating and lifted their target price for the company from $41.00 to $61.00 in a report on Thursday, January 18th. Finally, KeyCorp raised their price target on Tempur Sealy International from $56.00 to $60.00 and gave the company an overweight rating in a report on Friday, February 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $62.71.

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.