Tempur Sealy International, Inc. to Post Q1 2024 Earnings of $0.49 Per Share, Wedbush Forecasts (NYSE:TPX)

Tempur Sealy International, Inc. (NYSE:TPXFree Report) – Research analysts at Wedbush lowered their Q1 2024 earnings per share estimates for Tempur Sealy International in a note issued to investors on Friday, February 9th. Wedbush analyst S. Basham now forecasts that the company will post earnings of $0.49 per share for the quarter, down from their previous estimate of $0.61. Wedbush currently has a “Outperform” rating and a $50.00 target price on the stock. The consensus estimate for Tempur Sealy International’s current full-year earnings is $2.79 per share. Wedbush also issued estimates for Tempur Sealy International’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.67 EPS and FY2026 earnings at $3.28 EPS.

Tempur Sealy International (NYSE:TPXGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. Tempur Sealy International’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share.

Other equities research analysts have also issued research reports about the company. Piper Sandler raised 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. Truist Financial dropped their price target on Tempur Sealy International from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Raymond James lifted their price target on Tempur Sealy International from $45.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 19th. Finally, KeyCorp lifted their price target on Tempur Sealy International from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

View Our Latest Research Report on TPX

Tempur Sealy International Price Performance

NYSE:TPX opened at $51.99 on Monday. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 1.72 and a beta of 1.56. Tempur Sealy International has a 52-week low of $34.98 and a 52-week high of $53.60. The stock has a fifty day moving average of $49.90 and a 200 day moving average of $44.91. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.68 and a current ratio of 1.21.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in Tempur Sealy International during the 4th quarter valued at about $40,000. Belpointe Asset Management LLC increased its holdings in Tempur Sealy International by 72.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,177 shares of the company’s stock valued at $46,000 after purchasing an additional 495 shares during the period. Parkside Financial Bank & Trust increased its holdings in Tempur Sealy International by 67.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,241 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. International Assets Investment Management LLC increased its holdings in Tempur Sealy International by 4,996.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,376 shares of the company’s stock valued at $70,000 after purchasing an additional 1,349 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Tempur Sealy International by 37.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,537 shares of the company’s stock valued at $67,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, February 21st. This is an increase from Tempur Sealy International’s previous quarterly dividend of $0.11. Tempur Sealy International’s payout ratio is currently 21.26%.

About Tempur Sealy International

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Tempur Sealy International, Inc, together with its subsidiaries, designs, manufactures, markets, and distributes 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, and Cocoon by Sealy brand names.

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Earnings History and Estimates for Tempur Sealy International (NYSE:TPX)

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