Tempur Sealy International Inc (TPX) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.92 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.23. Analysts had a consensus of $0.69. The company posted revenue of $804.40 million in the period, compared to analysts expectations of $785.37 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.
Many Wall Street Analysts have commented on Tempur Sealy International Inc. Topeka Capital Markets Initiated Tempur Sealy International Inc on May 24, 2016 to “Hold”, Price Target of the shares are set at $61.
Tempur Sealy International Inc opened for trading at $74.4 and hit $74.94 on the upside on Thursday, eventually ending the session at $74.04, with a gain of 16.80% or 10.65 points. The heightened volatility saw the trading volume jump to 96,42,598 shares. Company has a market cap of $4,511 M.
In a different news, on Jun 15, 2016, Jay G Spenchian (EVP, Chief Marketing Officer) purchased 7,000 shares at $58.37 per share price. According to the SEC, on Jun 1, 2016, Bhaskar Rao (CAO & SVP Finance) purchased 8,450 shares at $58.97 per share price. On May 3, 2016, Scott L Thompson (CEO) purchased 16,679 shares at $59.96 per share price, according to the Form-4 filing with the securities and exchange commission.
Tempur Sealy International Inc. is a bedding provider. The Company develops manufactures markets and distributes bedding products which it sells globally in approximately 100 countries. The Company operates in three segments: Tempur North America Tempur International and Sealy. The Company’s brand portfolio includes TEMPUR Tempur-Pedic Sealy Sealy Posturepedic Optimum and Stearns & Foster. The Company sells its products through three distribution channels in each operating business segment: Retail which consists of furniture and bedding retailers department stores specialty retailers and warehouse clubs; Direct which consists of electronic commerce (e-commerce) platform Company-owned stores and call center and Other which includes third party distributors hospitality and healthcare customers.