Brokerages Anticipate Tempur Sealy International, Inc. (NYSE:TPX) Will Post Quarterly Sales of $664.30 Million
Brokerages expect Tempur Sealy International, Inc. (NYSE:TPX) to announce sales of $664.30 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Tempur Sealy International’s earnings, with the highest sales estimate coming in at $686.80 million and the lowest estimate coming in at $639.50 million. Tempur Sealy International reported sales of $804.40 million during the same quarter last year, which indicates a negative year over year growth rate of 17.4%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that Tempur Sealy International will report full year sales of $664.30 million for the current fiscal year, with estimates ranging from $2.78 billion to $2.88 billion. For the next financial year, analysts expect that the business will report sales of $2.90 billion per share, with estimates ranging from $2.88 billion to $2.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Tempur Sealy International.
Tempur Sealy International (NYSE:TPX) last issued its earnings results on Thursday, May 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.24. Tempur Sealy International had a return on equity of 361.84% and a net margin of 6.28%. The business had revenue of $722.10 million during the quarter, compared to analyst estimates of $725.44 million. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue was up .2% compared to the same quarter last year.
A number of research firms have recently commented on TPX. Raymond James Financial, Inc. reiterated a “strong-buy” rating and set a $55.00 price target on shares of Tempur Sealy International in a report on Wednesday, June 28th. Tigress Financial cut shares of Tempur Sealy International from a “buy” rating to a “neutral” rating in a report on Thursday, May 18th. ValuEngine cut shares of Tempur Sealy International from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Tempur Sealy International from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Wedbush set a $45.00 price target on shares of Tempur Sealy International and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $55.90.
In other news, Director Usman Nabi purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $47.37 per share, with a total value of $4,737,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Rehan Jaffer purchased 640,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average cost of $47.68 per share, with a total value of $30,515,200.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,122,750 shares of company stock worth $101,698,731. Insiders own 2.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP boosted its stake in Tempur Sealy International by 46.7% in the fourth quarter. Hudson Bay Capital Management LP now owns 19,663 shares of the company’s stock valued at $1,343,000 after buying an additional 6,263 shares during the period. Neuberger Berman Group LLC bought a new stake in Tempur Sealy International during the first quarter valued at about $14,268,000. ICONIQ Capital LLC boosted its stake in Tempur Sealy International by 26.1% in the first quarter. ICONIQ Capital LLC now owns 108,268 shares of the company’s stock valued at $5,030,000 after buying an additional 22,434 shares during the period. Quotient Investors LLC bought a new stake in Tempur Sealy International during the first quarter valued at about $269,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Tempur Sealy International by 34.0% in the first quarter. Parametric Portfolio Associates LLC now owns 96,137 shares of the company’s stock valued at $4,467,000 after buying an additional 24,387 shares during the period.
Shares of Tempur Sealy International (TPX) traded up 0.61% during mid-day trading on Friday, reaching $55.95. The company had a trading volume of 1,066,962 shares. The firm has a 50-day moving average of $50.78 and a 200-day moving average of $49.60. Tempur Sealy International has a 12-month low of $39.57 and a 12-month high of $82.32. The company has a market capitalization of $3.02 billion, a P/E ratio of 16.46 and a beta of 1.67.
About Tempur Sealy International
Tempur Sealy International, Inc is a bedding manufacturer. The Company develops, manufactures, markets and distributes bedding products. The Company operates in two segments: North America and International. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the United States and Canada.
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