Tempur Sealy International (NYSE:TPX) Updates 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 $2.45-$2.65 for the period, compared to the consensus earnings per share estimate of $2.67. Tempur Sealy International also updated its FY 2024 guidance to 2.450-2.650 EPS.

Tempur Sealy International Price Performance

Shares of Tempur Sealy International stock traded down $0.14 during trading on Wednesday, reaching $48.09. The company’s stock had a trading volume of 1,276,343 shares, compared to its average volume of 1,707,632. The business has a 50 day moving average price of $49.33 and a 200-day moving average price of $51.19. Tempur Sealy International has a 12-month low of $36.12 and a 12-month high of $57.13. The company has a market capitalization of $8.35 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.60. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 7.74.

Tempur Sealy International (NYSE:TPX) last issued its earnings results on Tuesday, August 6th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Tempur Sealy International had a return on equity of 168.59% and a net margin of 7.32%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Tempur Sealy International’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts anticipate that Tempur Sealy International will post 2.64 EPS for the current year.

Tempur Sealy International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.13 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.08%. Tempur Sealy International’s dividend payout ratio (DPR) is presently 25.74%.

Analysts Set New Price Targets

TPX has been the subject of a number of research analyst reports. Piper Sandler restated an overweight rating and issued a $61.00 price target on shares of Tempur Sealy International in a research report on Wednesday, July 3rd. Truist Financial dropped their target price on shares of Tempur Sealy International from $65.00 to $58.00 and set a buy rating for the company in a report on Wednesday, July 10th. Finally, Wedbush reduced their price target on shares of Tempur Sealy International from $55.00 to $52.00 and set an outperform rating on the stock in a report on Wednesday. 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. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $59.71.

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.