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

Tempur Sealy International (NYSE:TPX) updated its FY24 earnings guidance on Tuesday. 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 Stock Performance

TPX stock traded down $0.14 during trading on Wednesday, reaching $48.09. 1,276,343 shares of the company’s stock were exchanged, compared to its average volume of 1,707,632. The firm has a market cap of $8.35 billion, a PE ratio of 23.92, a P/E/G 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 has a 1-year low of $36.12 and a 1-year high of $57.13. The company’s fifty day moving average price is $49.33 and its 200-day moving average price is $51.19.

Tempur Sealy International (NYSE:TPX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Tempur Sealy International had a return on equity of 168.59% and a net margin of 7.32%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. On average, research analysts expect that Tempur Sealy International will post 2.64 EPS for the current fiscal year.

Tempur Sealy International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TPX shares. Truist Financial decreased their price target on Tempur Sealy International from $65.00 to $58.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Wedbush lowered their target price on Tempur Sealy International from $55.00 to $52.00 and set an outperform rating on the stock in a report on Wednesday. Finally, Piper Sandler reissued an overweight rating and issued a $61.00 price target on shares of Tempur Sealy International in a report on Wednesday, July 3rd. One 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’s stock. According to data from MarketBeat.com, Tempur Sealy International presently has a consensus rating of Buy and an average target price of $59.71.

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.