Tempur-Pedic International (TPX) Issues FY13 Earnings Guidance
Tempur-Pedic International (TPX) issued an update on its FY13 earnings guidance on Thursday morning. The company provided earnings per share guidance of ~$2.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.63. The company issued revenue guidance of $1.425 billion, compared to the consensus revenue estimate of $1.42 billion.
On a related note, analysts at Zacks upgraded shares of Tempur-Pedic International from an underperform rating to a neutral rating in a research note to investors on Tuesday, December 25th. They now have a $31.10 price target on the stock.
Four equities research analysts have rated the stock with a buy rating, ten have assigned a hold rating, and one has given an underweight rating to the company. The stock has an average rating of hold and a consensus price target of $35.22.
Shares of Tempur-Pedic International (TPX) traded up 9.20% during mid-day trading on Thursday, hitting $38.35. Tempur-Pedic International (TPX) has a 52 week low of $20.70 and a 52 week high of $87.43. The stock’s 50-day moving average is currently $31.89. The company has a market cap of $2.285 billion and a P/E ratio of 16.20.
Tempur-Pedic International last posted its quarterly earnings results on Thursday, January 24th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The company had revenue of $341.10 million for the quarter, compared to the consensus estimate of $339.04 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Tempur-Pedic International has set its FY13 guidance at ~$2.55 EPS. Analysts expect that Tempur-Pedic International (TPX) will post $2.55 EPS for the current fiscal year.
Tempur-Pedic International Inc. (Tempur-Pedic International), incorporated in September 2002, is a manufacturer, marketer and distributor of premium mattresses and pillows, which it sells in approximately 80 countries under the TEMPUR and Tempur-Pedic brands.
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