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 after the company announced better than expected quarterly earnings. 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 traded.

The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tempur Sealy International had a return on equity of 239.67% and a net margin of 7.47%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis.

Tempur Sealy International Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler raised shares of Tempur Sealy International from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $61.00 in a research note on Thursday, January 18th. Loop Capital raised Tempur Sealy International from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $75.00 in a research report on Monday, March 25th. Raymond James raised their price objective on Tempur Sealy International from $45.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Friday, January 19th. KeyCorp boosted their target price on Tempur Sealy International from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Truist Financial raised their price target on shares of Tempur Sealy International from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 5th. One equities 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. According to data from MarketBeat.com, Tempur Sealy International currently has a consensus rating of “Buy” and a consensus price target of $62.71.

Hedge Funds Weigh In On Tempur Sealy International

A number of institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Tempur Sealy International by 3.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,303 shares of the company’s stock worth $490,000 after acquiring an additional 401 shares in the last quarter. Raymond James & Associates lifted its position in shares of Tempur Sealy International by 4.6% in the 3rd quarter. Raymond James & Associates now owns 458,808 shares of the company’s stock worth $19,885,000 after buying an additional 20,147 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tempur Sealy International by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,910,864 shares of the company’s stock valued at $82,817,000 after buying an additional 57,286 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tempur Sealy International by 15.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,549 shares of the company’s stock valued at $1,497,000 after buying an additional 4,721 shares during the last quarter. Finally, Strs Ohio raised its stake in Tempur Sealy International by 10.3% during the third quarter. Strs Ohio now owns 151,628 shares of the company’s stock worth $6,571,000 after acquiring an additional 14,128 shares during the period. Institutional investors and hedge funds own 99.86% of the company’s stock.

Tempur Sealy International Stock Up 3.7 %

The stock has a market cap of $9.37 billion, a P/E ratio of 25.18, a PEG ratio of 1.17 and a beta of 1.58. The stock’s fifty day simple moving average is $52.81 and its 200-day simple moving average is $48.74. The company has a debt-to-equity ratio of 7.81, a current ratio of 1.21 and a quick ratio of 0.68.

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.