Culp, Inc. to Post FY2024 Earnings of ($1.09) Per Share, Sidoti Csr Forecasts (NYSE:CULP)

Culp, Inc. (NYSE:CULP) – Equities researchers at Sidoti Csr lowered their FY2024 earnings estimates for shares of Culp in a research note issued to investors on Wednesday, April 17th. Sidoti Csr analyst A. Lebiedzinski now anticipates that the textile maker will post earnings per share of ($1.09) for the year, down from their previous forecast of ($1.04). The consensus estimate for Culp’s current full-year earnings is ($1.04) per share. Sidoti Csr also issued estimates for Culp’s Q4 2024 earnings at ($0.40) EPS, Q1 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.03) EPS.

Culp (NYSE:CULP) last posted its quarterly earnings results on Wednesday, March 6th. The textile maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The company had revenue of $60.42 million during the quarter, compared to the consensus estimate of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%.

Separately, StockNews.com initiated coverage on shares of Culp in a research report on Saturday. They set a “hold” rating for the company.

Culp Trading Up 0.9 %

NYSE:CULP opened at $4.52 on Friday. The firm’s 50 day moving average is $4.73 and its 200 day moving average is $5.17. The stock has a market capitalization of $56.36 million, a PE ratio of -4.11 and a beta of 1.29. Culp has a 12 month low of $4.20 and a 12 month high of $5.99.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CULP. Bragg Financial Advisors Inc purchased a new stake in Culp during the fourth quarter valued at about $46,000. HighTower Advisors LLC purchased a new stake in Culp during the fourth quarter valued at about $48,000. Assenagon Asset Management S.A. purchased a new stake in Culp during the third quarter valued at about $68,000. Engineers Gate Manager LP purchased a new stake in Culp during the first quarter valued at about $112,000. Finally, Virtu Financial LLC purchased a new stake in Culp during the fourth quarter valued at about $80,000. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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 the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.