Tempur Sealy International, Inc. (NYSE:TPX) – Wedbush upped their Q3 2017 earnings estimates for Tempur Sealy International in a report released on Friday. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $0.88 for the quarter, up from their prior estimate of $0.87. Wedbush currently has a “Hold” rating and a $45.00 price objective on the stock. Wedbush also issued estimates for Tempur Sealy International’s FY2017 earnings at $3.17 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.00 EPS and FY2018 earnings at $3.27 EPS.
Tempur Sealy International (NYSE:TPX) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. Tempur Sealy International had a return on equity of 617.75% and a net margin of 6.69%. The firm had revenue of $659.30 million during the quarter, compared to analyst estimates of $661.65 million. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was down 18.0% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: This report was published by BNB Daily and is owned by of BNB Daily. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.baseball-news-blog.com/2017/08/19/wedbush-weighs-in-on-tempur-sealy-international-inc-s-q3-2017-earnings-nysetpx-updated-updated.html.
A number of other equities research analysts also recently issued reports on the stock. BidaskClub raised shares of Tempur Sealy International from a “buy” rating to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus reissued a “hold” rating and set a $60.00 price objective (up previously from $47.00) on shares of Tempur Sealy International in a research report on Sunday. Piper Jaffray Companies set a $61.00 price objective on shares of Tempur Sealy International and gave the company a “hold” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. reissued a “strong-buy” rating and set a $55.00 price objective on shares of Tempur Sealy International in a research report on Wednesday, June 28th. Finally, ValuEngine downgraded shares of Tempur Sealy International from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.00.
Tempur Sealy International (TPX) opened at 57.67 on Monday. 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 $3.11 billion, a price-to-earnings ratio of 16.26 and a beta of 1.66. The stock has a 50 day moving average price of $52.64 and a 200-day moving average price of $48.94.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in Tempur Sealy International by 23.1% in the second quarter. Sei Investments Co. now owns 2,247 shares of the company’s stock valued at $120,000 after buying an additional 421 shares during the period. Texas Permanent School Fund increased its position in Tempur Sealy International by 1.0% in the second quarter. Texas Permanent School Fund now owns 34,235 shares of the company’s stock valued at $1,828,000 after buying an additional 349 shares during the period. Coronation Fund Managers Ltd. increased its position in Tempur Sealy International by 0.9% in the second quarter. Coronation Fund Managers Ltd. now owns 337,133 shares of the company’s stock valued at $18,000,000 after buying an additional 2,892 shares during the period. Janney Montgomery Scott LLC bought a new position in Tempur Sealy International during the second quarter valued at approximately $576,000. Finally, ING Groep NV bought a new position in Tempur Sealy International during the second quarter valued at approximately $305,000.
In related news, Director Usman Nabi acquired 610,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was acquired at an average price of $48.30 per share, with a total value of $29,463,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rehan Jaffer acquired 200,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were bought at an average cost of $48.09 per share, with a total value of $9,618,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,122,750 shares of company stock valued at $101,698,731 in the last three months. Insiders own 2.10% of the company’s stock.
Tempur Sealy International Company Profile
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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