Culp (NYSE:CULP) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Culp (NYSE:CULP) posted its quarterly earnings results on Thursday. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05, Zacks reports. Culp had a negative return on equity of 16.06% and a negative net margin of 6.13%. The business had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. During the same period in the prior year, the company posted ($0.38) EPS.

Culp Stock Up 0.9 %

NYSE CULP traded up $0.04 during trading hours on Friday, hitting $4.48. The company had a trading volume of 64,361 shares, compared to its average volume of 17,427. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $5.99. The business has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $4.82. The firm has a market cap of $55.87 million, a P/E ratio of -4.04 and a beta of 1.23.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Culp in a research report on Sunday, June 23rd. They issued a “hold” rating on the stock.

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.