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Tempur Sealy (NYSE:TPX) International, Inc. (NYSE: TPX), a global leader in the bedding industry, announced today that its Board of Directors has approved a quarterly cash dividend of $0.13 per share. This dividend is to be distributed on August 29, 2024, to shareholders who are on record as of August 15, 2024.
As one of the designers, manufacturers, distributors, and retailers of bedding products, Tempur Sealy's portfolio includes Tempur-Pedic®, Sealy®, and Stearns & Foster® brands, as well as a variety of private label and OEM products.
The company claims its reach extends to over 100 countries, where it aims to enhance the sleep quality of its customers, a factor it deems vital for overall health and wellness.
Tempur Sealy's strategy encompasses a broad omni-channel retail approach, allowing customers to access their products through multiple avenues. The company operates over 750 stores globally and also engages customers through third-party retailers and e-commerce platforms, ensuring a wide range of purchasing options.
Tempur Sealy reported consistent Q1 2024 results, with net sales of $1.2 billion and an adjusted EPS of $0.50. Adjusted EBITDA remained steady at $198 million compared to the same period last year.
The bedding manufacturer is currently facing a lawsuit from the Federal Trade Commission (FTC) regarding its proposed acquisition of Mattress Firm Group Inc. Despite this, Loop Capital and Piper Sandler have maintained their positive ratings of the company.
Loop Capital reaffirmed a Buy rating with a $75.00 price target, while Piper Sandler maintained an Overweight rating with a $61.00 price target. Both firms believe Tempur Sealy is a sound investment regardless of the acquisition's outcome.
InvestingPro Insights
Tempur Sealy International, Inc. (NYSE: TPX) has not only committed to providing value to its shareholders through dividends but also shows a pattern of robust financial health and market performance. With a market capitalization of $8.44 billion, the company stands as a significant player in the bedding industry. According to recent data, Tempur Sealy is trading at a price-to-earnings (P/E) ratio of 23.08, reflecting investor confidence in its earnings potential. Moreover, the company's revenue for the last twelve months as of Q1 2024 stands at approximately $4.91 billion, indicating a stable revenue stream.
One of the InvestingPro Tips that stands out for Tempur Sealy is its track record of raising its dividend for three consecutive years, suggesting a reliable and growing income stream for investors. In addition, the company's stock price movements are known to be quite volatile, providing opportunities for investors who are adept at navigating market fluctuations. For those interested in deeper financial analysis and more insights, InvestingPro offers a total of 7 additional InvestingPro Tips for Tempur Sealy, which can be found at https://www.investing.com/pro/TPX.
As for Tempur Sealy's strategic retail approach and commitment to sustainability, these efforts are reflected in the company's strong return over the last five years, a testament to its operational success and forward-thinking policies. With analysts predicting profitability for the year and a history of profitability over the last twelve months, Tempur Sealy's financial outlook remains positive.
The company's next earnings date is set for August 6, 2024, which will provide investors with further insights into its performance and strategic direction. With a fair value estimation by analysts at $60, compared to the InvestingPro Fair Value of $42.1, investors have varying perspectives to consider when evaluating the company's stock value.
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