Tempur Sealy International (NYSE:TPX) Shares Gap Up After Earnings Beat

Tempur Sealy International, Inc. (NYSE:TPX)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $50.13, but opened at $52.46. Tempur Sealy International shares last traded at $53.78, with a volume of 249,969 shares changing hands.

The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business 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 7.47% and a return on equity of 239.67%. Tempur Sealy International’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share.

Tempur Sealy International Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $66.00 target price on shares of Tempur Sealy International in a report on Wednesday. Loop Capital upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $75.00 in a research note on Monday, March 25th. Raymond James boosted their target price on shares of Tempur Sealy International from $45.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Friday, January 19th. KeyCorp increased their price target on shares of Tempur Sealy International from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Truist Financial boosted their price objective on shares of Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $62.71.

Institutional Investors Weigh In On Tempur Sealy International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Tempur Sealy International during the first quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of Tempur Sealy International in the first quarter valued at about $27,000. Principal Securities Inc. bought a new position in shares of Tempur Sealy International during the fourth quarter worth about $40,000. Fifth Third Bancorp boosted its holdings in Tempur Sealy International by 37.7% in the third quarter. Fifth Third Bancorp now owns 1,537 shares of the company’s stock valued at $67,000 after acquiring an additional 421 shares during the last quarter. Finally, International Assets Investment Management LLC raised 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 worth $70,000 after purchasing an additional 1,349 shares during the last quarter. Institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Stock Up 3.7 %

The stock’s 50-day moving average price is $52.81 and its 200-day moving average price is $48.74. 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 has a market cap of $9.37 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.17 and a beta of 1.58.

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.