Equities research analysts predict that Culp, Inc. (NYSE:CULP) will post $79.38 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Culp’s earnings, with estimates ranging from $79.24 million to $79.50 million. Culp reported sales of $85.31 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7%. The business is scheduled to report its next earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Culp will report full year sales of $309.05 million for the current financial year, with estimates ranging from $308.15 million to $310.09 million. For the next fiscal year, analysts anticipate that the company will post sales of $328.57 million, with estimates ranging from $323.36 million to $331.74 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Culp.
Culp (NYSE:CULP) last released its earnings results on Thursday, November 29th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $77.01 million during the quarter, compared to the consensus estimate of $76.32 million. Culp had a net margin of 5.07% and a return on equity of 9.42%.
Several brokerages have weighed in on CULP. Zacks Investment Research raised Culp from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine raised Culp from a “hold” rating to a “buy” rating in a report on Thursday, December 6th.
Institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC raised its position in shares of Culp by 68.7% in the third quarter. MetLife Investment Advisors LLC now owns 7,924 shares of the textile maker’s stock worth $192,000 after buying an additional 3,227 shares in the last quarter. Rhumbline Advisers raised its position in shares of Culp by 43.1% in the fourth quarter. Rhumbline Advisers now owns 15,989 shares of the textile maker’s stock worth $302,000 after buying an additional 4,812 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Culp by 38.6% in the third quarter. Wedge Capital Management L L P NC now owns 30,431 shares of the textile maker’s stock worth $736,000 after buying an additional 8,482 shares in the last quarter. Isthmus Partners LLC raised its position in shares of Culp by 62.8% in the fourth quarter. Isthmus Partners LLC now owns 46,408 shares of the textile maker’s stock worth $877,000 after buying an additional 17,910 shares in the last quarter. Finally, Martingale Asset Management L P raised its position in shares of Culp by 20.9% in the third quarter. Martingale Asset Management L P now owns 49,824 shares of the textile maker’s stock worth $1,206,000 after buying an additional 8,610 shares in the last quarter. 84.83% of the stock is owned by hedge funds and other institutional investors.
Shares of CULP stock traded up $0.05 during trading on Wednesday, hitting $19.10. The company’s stock had a trading volume of 400 shares, compared to its average volume of 40,696. The firm has a market cap of $237.97 million, a PE ratio of 12.82 and a beta of 0.23. Culp has a 52 week low of $17.99 and a 52 week high of $32.05.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 16th. Stockholders of record on Wednesday, January 2nd were issued a $0.10 dividend. This is a positive change from Culp’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, December 31st. Culp’s dividend payout ratio (DPR) is presently 26.85%.
Culp Company Profile
Culp, Inc manufactures, 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 in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.
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