Equities Analysts Issue Forecasts for Tempur Sealy International, Inc.’s Q2 2024 Earnings (NYSE:TPX)

Tempur Sealy International, Inc. (NYSE:TPX) – Research analysts at Wedbush dropped their Q2 2024 earnings per share estimates for Tempur Sealy International in a research report issued on Wednesday, May 8th. Wedbush analyst S. Basham now anticipates that the company will post earnings of $0.62 per share for the quarter, down from their previous estimate of $0.73. Wedbush currently has a “Outperform” rating and a $66.00 target price on the stock. The consensus estimate for Tempur Sealy International’s current full-year earnings is $2.75 per share. Wedbush also issued estimates for Tempur Sealy International’s Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.72 EPS, FY2024 earnings at $2.79 EPS, FY2025 earnings at $3.04 EPS and FY2026 earnings at $3.24 EPS.

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 the consensus estimate of $0.48 by $0.02. The company 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 business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share.

TPX has been the topic of several other reports. Loop Capital upgraded Tempur Sealy International from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $75.00 in a report on Monday, March 25th. Raymond James upped their target price 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. Piper Sandler upgraded Tempur Sealy International from a “neutral” rating to an “overweight” rating and upped their target price for the company from $41.00 to $61.00 in a report on Thursday, January 18th. Truist Financial upped their target price on Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, KeyCorp upped their target price 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. Based on data from MarketBeat.com, Tempur Sealy International currently has an average rating of “Buy” and an average price target of $62.71.

Tempur Sealy International Stock Performance

NYSE:TPX opened at $53.99 on Friday. The stock has a market cap of $9.37 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.58. The company has a current ratio of 1.21, a quick ratio of 0.68 and a debt-to-equity ratio of 7.81. The stock’s 50-day moving average is $52.80 and its 200-day moving average is $48.77. Tempur Sealy International has a 1-year low of $34.98 and a 1-year high of $57.13.

Hedge Funds Weigh In On Tempur Sealy International

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Tempur Sealy International in the 1st quarter worth $26,000. Rise Advisors LLC bought a new position in shares of Tempur Sealy International in the 1st quarter worth $27,000. Principal Securities Inc. bought a new position in shares of Tempur Sealy International in the 4th quarter worth $40,000. J.Safra Asset Management Corp lifted its holdings in shares of Tempur Sealy International by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 1,028 shares of the company’s stock worth $58,000 after purchasing an additional 457 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Tempur Sealy International by 4,996.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock worth $70,000 after purchasing an additional 1,349 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors.

Tempur Sealy International Dividend Announcement

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

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.