Tempur Sealy International, Inc. (NYSE:TPX) Plans $0.13 Quarterly Dividend

Tempur Sealy International, Inc. (NYSE:TPX) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Thursday, May 16th will be given a dividend of 0.13 per share on Thursday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, May 15th.

Tempur Sealy International has a dividend payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tempur Sealy International to earn $3.25 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 16.0%.

Tempur Sealy International Price Performance

Shares of NYSE:TPX traded down $0.89 during midday trading on Wednesday, hitting $51.18. 272,131 shares of the stock were exchanged, compared to its average volume of 1,663,318. The stock has a market cap of $8.89 billion, a P/E ratio of 24.74, a PEG ratio of 1.17 and a beta of 1.58. Tempur Sealy International has a twelve month low of $34.98 and a twelve month high of $57.13. The company has a 50 day moving average price of $52.83 and a 200-day moving average price of $48.71. The company has a current ratio of 1.21, a quick ratio of 0.68 and a debt-to-equity ratio of 7.81.

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. Tempur Sealy International had a net margin of 7.47% and a return on equity of 239.67%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts forecast that Tempur Sealy International will post 2.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TPX has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $66.00 target price on shares of Tempur Sealy International in a report on Tuesday, April 30th. Raymond James lifted their price objective on 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. Loop Capital upgraded Tempur Sealy International from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $75.00 in a report on Monday, March 25th. KeyCorp upped 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 lifted 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tempur Sealy International has an average rating of “Buy” and a consensus target price of $62.71.

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.