$0.15 EPS Expected for Culp, Inc. (NYSE:CULP) This Quarter

Analysts forecast that Culp, Inc. (NYSE:CULP) will post earnings per share (EPS) of $0.15 for the current quarter, Zacks reports. Two analysts have made estimates for Culp’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.17. Culp posted earnings per share of $0.19 during the same quarter last year, which would indicate a negative year over year growth rate of 21.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, December 3rd.

On average, analysts expect that Culp will report full-year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.28. For the next financial year, analysts forecast that the business will report earnings of $0.63 per share, with EPS estimates ranging from $0.40 to $0.86. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Culp.

Culp (NYSE:CULP) last announced its earnings results on Wednesday, September 2nd. The textile maker reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.26). The firm had revenue of $64.46 million during the quarter, compared to analyst estimates of $59.06 million. Culp had a positive return on equity of 2.59% and a negative net margin of 11.02%.

CULP has been the subject of several recent research reports. Zacks Investment Research raised Culp from a “sell” rating to a “hold” rating and set a $14.00 price objective for the company in a report on Thursday, September 3rd. Raymond James increased their price objective on Culp from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, September 4th. Finally, ValuEngine upgraded Culp from a “hold” rating to a “buy” rating in a research report on Thursday, October 1st.

A number of hedge funds have recently modified their holdings of CULP. Citigroup Inc. lifted its stake in shares of Culp by 76.9% in the 1st quarter. Citigroup Inc. now owns 3,909 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 1,699 shares during the period. First Quadrant L P CA purchased a new position in Culp during the second quarter valued at $66,000. Engineers Gate Manager LP purchased a new position in Culp during the first quarter valued at $107,000. Zebra Capital Management LLC purchased a new position in shares of Culp in the second quarter valued at about $115,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Culp by 22.5% in the first quarter. Wells Fargo & Company MN now owns 25,067 shares of the textile maker’s stock worth $185,000 after purchasing an additional 4,609 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

CULP stock traded down $0.61 on Tuesday, reaching $12.54. 67,329 shares of the company were exchanged, compared to its average volume of 84,419. The firm has a market capitalization of $154.22 million, a PE ratio of -5.48 and a beta of 1.12. The stock’s fifty day moving average price is $12.73 and its 200 day moving average price is $9.49. Culp has a 12 month low of $5.28 and a 12 month high of $16.92.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 8th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 3.35%. Culp’s payout ratio is 200.00%.

About Culp

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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