Zacks Investment Research downgraded shares of Culp (NYSE:CULP) from a buy rating to a hold rating in a research report released on Monday morning.
According to Zacks, “Culp, Inc. manufactures, sources, markets, and sells mattress fabrics and upholstery fabrics. The Company’s fabrics are used in the production of residential and commercial furniture and bedding products, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, office seating, panel systems, and mattress sets. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for covering mattresses, box springs, and foundations. The Upholstery Fabric segment provides synthetic leathers, velvets, woven jacquards, woven dobbies, and suedes. Culp, Inc. is headquartered in High Point, North Carolina. “
Separately, ValuEngine upgraded Culp from a hold rating to a buy rating in a research report on Sunday, December 31st.
Culp (NYSE:CULP) last announced its quarterly earnings data on Thursday, November 30th. The textile maker reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). Culp had a net margin of 6.85% and a return on equity of 14.14%. The company had revenue of $80.70 million during the quarter, compared to the consensus estimate of $75.74 million. equities analysts expect that Culp will post 1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.36 annualized dividend and a yield of 1.24%. This is an increase from Culp’s previous quarterly dividend of $0.08. Culp’s payout ratio is presently 20.93%.
Culp Company Profile
Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Culp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Culp and related companies with MarketBeat.com's FREE daily email newsletter.