Analysts Expect Culp, Inc. (NYSE:CULP) Will Announce Earnings of $0.08 Per Share

Wall Street brokerages expect Culp, Inc. (NYSE:CULPGet Rating) to post $0.08 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Culp’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.09. Culp posted earnings per share of $0.11 in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.3%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Culp will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.30 to $0.32. For the next fiscal year, analysts anticipate that the company will post earnings of $0.71 per share, with EPS estimates ranging from $0.64 to $0.78. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Culp.

Culp (NYSE:CULPGet Rating) last posted its earnings results on Wednesday, March 2nd. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.10). The business had revenue of $80.29 million during the quarter, compared to the consensus estimate of $74.76 million. Culp had a return on equity of 3.29% and a net margin of 1.36%. During the same period in the previous year, the business earned $0.17 earnings per share.

Several research firms have weighed in on CULP. Zacks Investment Research cut Culp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 1st. StockNews.com initiated coverage on shares of Culp in a report on Friday. They set a “hold” rating for the company.

Shares of NYSE CULP traded down $0.03 during trading hours on Tuesday, hitting $7.61. The company’s stock had a trading volume of 29,433 shares, compared to its average volume of 35,573. The business has a 50-day simple moving average of $8.09 and a 200-day simple moving average of $9.94. The stock has a market cap of $92.98 million, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.46 and a beta of 1.08. Culp has a 12 month low of $7.60 and a 12 month high of $17.75.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 19th. Stockholders of record on Monday, April 11th will be issued a dividend of $0.115 per share. The ex-dividend date is Friday, April 8th. This represents a $0.46 annualized dividend and a dividend yield of 6.04%. Culp’s payout ratio is 131.43%.

A number of institutional investors and hedge funds have recently modified their holdings of CULP. Marshall Wace LLP bought a new stake in shares of Culp in the fourth quarter worth approximately $31,000. Bank of America Corp DE grew its position in Culp by 15,938.1% in the 2nd quarter. Bank of America Corp DE now owns 6,736 shares of the textile maker’s stock worth $110,000 after purchasing an additional 6,694 shares during the period. Goldman Sachs Group Inc. grew its position in Culp by 20.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 12,429 shares of the textile maker’s stock worth $118,000 after purchasing an additional 2,135 shares during the period. Morgan Stanley raised its stake in Culp by 27.1% during the 2nd quarter. Morgan Stanley now owns 7,713 shares of the textile maker’s stock valued at $126,000 after buying an additional 1,644 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Culp by 14.5% in the 3rd quarter. Barclays PLC now owns 12,711 shares of the textile maker’s stock worth $164,000 after buying an additional 1,607 shares during the last quarter. Institutional investors and hedge funds own 71.76% of the company’s stock.

About Culp (Get Rating)

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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