Culp, Inc. (NYSE:CULP) Expected to Post Earnings of $0.16 Per Share

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Equities analysts expect that Culp, Inc. (NYSE:CULP) will announce $0.16 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for Culp’s earnings, with estimates ranging from $0.15 to $0.17. Culp posted earnings of $0.20 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 20%. The firm is scheduled to issue its next quarterly earnings results on Thursday, December 5th.

According to Zacks, analysts expect that Culp will report full-year earnings of $0.71 per share for the current year, with EPS estimates ranging from $0.66 to $0.75. For the next year, analysts expect that the company will report earnings of $0.95 per share, with EPS estimates ranging from $0.90 to $1.01. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Culp.

Culp (NYSE:CULP) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). The business had revenue of $74.85 million during the quarter, compared to analyst estimates of $73.23 million. Culp had a return on equity of 3.50% and a net margin of 2.02%.

CULP has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Culp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Raymond James lowered their target price on shares of Culp from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, ValuEngine raised shares of Culp from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st.

NYSE CULP remained flat at $$15.95 during trading hours on Tuesday. 21,823 shares of the company’s stock were exchanged, compared to its average volume of 33,731. Culp has a 12-month low of $13.09 and a 12-month high of $23.11. The company has a quick ratio of 2.02, a current ratio of 3.44 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $194.01 million, a PE ratio of 38.90 and a beta of 0.60. The stock has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $17.13.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, October 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, October 3rd. Culp’s dividend payout ratio is 97.56%.

In related news, Director Kenneth W. Mcallister bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $15.26 per share, with a total value of $30,520.00. Insiders own 3.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. BW Gestao de Investimentos Ltda. lifted its position in Culp by 22.0% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 6,122 shares of the textile maker’s stock worth $100,000 after buying an additional 1,103 shares in the last quarter. SG Americas Securities LLC acquired a new position in Culp during the 3rd quarter worth about $171,000. Rhumbline Advisers lifted its position in Culp by 13.4% during the 3rd quarter. Rhumbline Advisers now owns 18,387 shares of the textile maker’s stock worth $300,000 after buying an additional 2,166 shares in the last quarter. Saturna Capital CORP acquired a new position in Culp during the 2nd quarter worth about $304,000. Finally, Moors & Cabot Inc. lifted its position in Culp by 53.2% during the 3rd quarter. Moors & Cabot Inc. now owns 19,351 shares of the textile maker’s stock worth $313,000 after buying an additional 6,722 shares in the last quarter. Institutional investors own 85.71% of the company’s stock.

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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