Zacks: Brokerages Anticipate Culp, Inc. (CULP) Will Post Quarterly Sales of $78.35 Million

Wall Street analysts forecast that Culp, Inc. (NYSE:CULP) will announce sales of $78.35 million for the current quarter, according to Zacks. Three analysts have provided estimates for Culp’s earnings, with estimates ranging from $78.17 million to $78.57 million. Culp posted sales of $77.35 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, June 12th.

On average, analysts expect that Culp will report full-year sales of $78.35 million for the current fiscal year, with estimates ranging from $323.71 million to $324.11 million. For the next financial year, analysts expect that the firm will post sales of $333.36 million per share, with estimates ranging from $330.86 million to $335.37 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Culp.

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Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The company had revenue of $85.31 million for the quarter, compared to analysts’ expectations of $78.56 million. Culp had a net margin of 4.46% and a return on equity of 13.46%.

A number of brokerages have issued reports on CULP. ValuEngine raised shares of Culp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Culp from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, January 31st. Finally, TheStreet cut shares of Culp from a “b” rating to a “c+” rating in a report on Wednesday, February 28th.

Culp stock traded up $0.25 during mid-day trading on Friday, reaching $30.85. 479 shares of the company traded hands, compared to its average volume of 18,128. The company has a market cap of $380.97, a P/E ratio of 18.77 and a beta of 0.16. Culp has a 52-week low of $26.15 and a 52-week high of $34.05.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, March 29th. Culp’s dividend payout ratio (DPR) is presently 18.09%.

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Culp Company Profile

Culp, Inc manufacturers, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates through two segments, Mattress Fabrics and Upholstery Fabrics.

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