Tempur Sealy International (NYSE:TPX) Shares Gap Up Following Better-Than-Expected Earnings

Tempur Sealy International, Inc. (NYSE:TPX) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $50.13, but opened at $52.46. Tempur Sealy International shares last traded at $53.78, with a volume of 249,969 shares traded.

The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS.

Tempur Sealy International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders 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 0.96%. The ex-dividend date of this dividend is Wednesday, May 15th. Tempur Sealy International’s payout ratio is 25.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James increased their price objective on Tempur Sealy International from $45.00 to $58.00 and gave the company a “strong-buy” rating in a report on Friday, January 19th. Truist Financial increased their target price on shares of Tempur Sealy International from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Loop Capital upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $75.00 in a research note on Monday, March 25th. Piper Sandler upgraded shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $61.00 in a research note on Thursday, January 18th. Finally, 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tempur Sealy International has a consensus rating of “Buy” and an average price target of $62.71.

Institutional Trading of Tempur Sealy International

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Tempur Sealy International in the first quarter valued at $26,000. Rise Advisors LLC purchased a new position in shares of Tempur Sealy International during the 1st quarter valued at about $27,000. Principal Securities Inc. bought a new stake in Tempur Sealy International in the 4th quarter worth approximately $40,000. Fifth Third Bancorp boosted its stake in Tempur Sealy International by 37.7% in the third quarter. Fifth Third Bancorp now owns 1,537 shares of the company’s stock worth $67,000 after buying an additional 421 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Tempur Sealy International by 4,996.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock valued at $70,000 after acquiring an additional 1,349 shares during the last quarter. Institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Price Performance

The stock has a market capitalization of $9.37 billion, a PE ratio of 26.08, a P/E/G ratio of 1.17 and a beta of 1.58. The company has a debt-to-equity ratio of 7.81, a current ratio of 1.21 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $52.80 and its 200 day simple moving average is $48.77.

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.