Zacks: Analysts Anticipate Culp, Inc. (NYSE:CULP) Will Post Earnings of $0.08 Per Share

Equities research analysts forecast that Culp, Inc. (NYSE:CULPGet Rating) will post $0.08 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Culp’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.07. Culp reported earnings per share of $0.11 in the same quarter last year, which would suggest a negative year over year growth rate of 27.3%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

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

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

Several equities research analysts have recently issued reports on CULP shares. Zacks Investment Research downgraded Culp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 1st. began coverage on Culp in a report on Sunday. They issued a “hold” rating on the stock.

Shares of NYSE:CULP traded down $0.78 on Tuesday, reaching $6.82. The company had a trading volume of 178,697 shares, compared to its average volume of 35,897. Culp has a twelve month low of $6.81 and a twelve month high of $17.75. The stock has a 50-day moving average price of $7.92 and a 200 day moving average price of $9.59. The stock has a market capitalization of $83.33 million, a P/E ratio of 19.49, a P/E/G ratio of 1.45 and a beta of 1.08.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 19th. Shareholders of record on Monday, April 11th were given a $0.115 dividend. The ex-dividend date was Friday, April 8th. This represents a $0.46 annualized dividend and a yield of 6.74%. Culp’s dividend payout ratio is 131.43%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in Culp during the fourth quarter worth about $31,000. Bank of America Corp DE lifted its holdings in shares of Culp by 15,938.1% during the 2nd quarter. Bank of America Corp DE now owns 6,736 shares of the textile maker’s stock worth $110,000 after acquiring an additional 6,694 shares during the period. Morgan Stanley boosted its position in shares of 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 acquiring an additional 1,644 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Culp by 20.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,429 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 2,135 shares during the period. Finally, Barclays PLC raised its position in Culp by 14.5% in the third quarter. Barclays PLC now owns 12,711 shares of the textile maker’s stock worth $164,000 after purchasing an additional 1,607 shares in 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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