Zacks: Brokerages Expect Culp, Inc. (NYSE:CULP) to Post $0.15 EPS

Equities analysts expect Culp, Inc. (NYSE:CULP) to post $0.15 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Culp’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.14. Culp posted earnings per share of $0.24 during the same quarter last year, which indicates a negative year over year growth rate of 37.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, September 4th.

According to Zacks, analysts expect that Culp will report full year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.79 to $0.94. For the next fiscal year, analysts anticipate that the business will report earnings of $1.08 per share, with EPS estimates ranging from $1.03 to $1.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Culp.

Culp (NYSE:CULP) last released its quarterly earnings data on Wednesday, June 12th. The textile maker reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.21). Culp had a return on equity of 4.47% and a net margin of 1.91%. The company had revenue of $70.96 million for the quarter, compared to the consensus estimate of $70.29 million.

CULP has been the subject of a number of research analyst reports. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th.

In other news, insider Thomas Bernard Gallagher, Jr. sold 1,400 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $18.26, for a total value of $25,564.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Culp by 43.1% during the 4th quarter. Rhumbline Advisers now owns 15,989 shares of the textile maker’s stock worth $302,000 after purchasing an additional 4,812 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Culp by 11.4% during the 4th quarter. Bank of New York Mellon Corp now owns 109,729 shares of the textile maker’s stock worth $2,074,000 after purchasing an additional 11,250 shares in the last quarter. Northern Trust Corp increased its stake in shares of Culp by 1.5% during the 4th quarter. Northern Trust Corp now owns 143,781 shares of the textile maker’s stock worth $2,718,000 after purchasing an additional 2,067 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Culp by 23.0% during the 4th quarter. Bessemer Group Inc. now owns 22,500 shares of the textile maker’s stock worth $425,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Culp by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 780,927 shares of the textile maker’s stock worth $14,760,000 after purchasing an additional 17,927 shares in the last quarter. 85.14% of the stock is owned by institutional investors.

CULP stock traded down $0.20 during midday trading on Monday, reaching $18.29. 12,056 shares of the company were exchanged, compared to its average volume of 24,773. The stock’s 50-day simple moving average is $18.22. Culp has a one year low of $16.41 and a one year high of $27.77. The firm has a market capitalization of $226.61 million, a price-to-earnings ratio of 44.61 and a beta of 0.50.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Friday, July 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. Culp’s payout ratio is presently 97.56%.

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 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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