Wedbush Research Analysts Cut Earnings Estimates for Tempur Sealy International, Inc. (NYSE:TPX)

Tempur Sealy International, Inc. (NYSE:TPX) – Stock analysts at Wedbush decreased their Q3 2024 earnings per share estimates for Tempur Sealy International in a report released on Tuesday, July 9th. Wedbush analyst S. Basham now forecasts that the company will post earnings per share of $0.87 for the quarter, down from their previous forecast of $0.95. Wedbush has a “Outperform” rating and a $66.00 price target on the stock. The consensus estimate for Tempur Sealy International’s current full-year earnings is $2.71 per share. Wedbush also issued estimates for Tempur Sealy International’s Q4 2024 earnings at $0.65 EPS.

A number of other research analysts have also issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $61.00 price objective on shares of Tempur Sealy International in a report on Wednesday, July 3rd. Truist Financial dropped their price target on shares of Tempur Sealy International from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Loop Capital raised shares of Tempur Sealy International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $75.00 in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $61.71.

Tempur Sealy International Stock Performance

Shares of TPX stock opened at $46.67 on Thursday. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.50 and a beta of 1.60. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 7.74. The business’s 50-day moving average price is $49.65 and its 200-day moving average price is $51.07. Tempur Sealy International has a 12 month low of $36.12 and a 12 month high of $57.13.

Tempur Sealy International (NYSE:TPX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Tempur Sealy International had a net margin of 7.32% and a return on equity of 168.59%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS.

Tempur Sealy International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.11%. Tempur Sealy International’s payout ratio is currently 25.74%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TPX. Vanguard Group Inc. increased its holdings in Tempur Sealy International by 0.9% in the first quarter. Vanguard Group Inc. now owns 16,068,006 shares of the company’s stock worth $912,984,000 after purchasing an additional 143,719 shares in the last quarter. Browning West LP boosted its stake in Tempur Sealy International by 7.0% during the fourth quarter. Browning West LP now owns 12,611,189 shares of the company’s stock worth $642,792,000 after acquiring an additional 820,200 shares in the last quarter. Linonia Partnership LP acquired a new stake in Tempur Sealy International in the fourth quarter worth $121,445,000. Norges Bank acquired a new stake in Tempur Sealy International in the fourth quarter worth $121,329,000. Finally, Dimensional Fund Advisors LP increased its stake in Tempur Sealy International by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,995,201 shares of the company’s stock valued at $101,699,000 after purchasing an additional 31,789 shares in the last quarter. 99.86% of the stock is owned by institutional investors.

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.