Brokerages expect Culp, Inc. (NYSE:CULP) to announce sales of $78.88 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Culp’s earnings, with the highest sales estimate coming in at $82.11 million and the lowest estimate coming in at $76.62 million. Culp reported sales of $78.18 million in the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The firm is expected to report its next earnings report on Wednesday, June 12th.
On average, analysts expect that Culp will report full-year sales of $305.34 million for the current financial year, with estimates ranging from $302.33 million to $310.09 million. For the next financial year, analysts forecast that the firm will post sales of $323.38 million, with estimates ranging from $318.50 million to $331.74 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Culp.
Culp (NYSE:CULP) last posted its quarterly earnings results on Wednesday, February 27th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. Culp had a net margin of 6.49% and a return on equity of 8.11%. The company had revenue of $77.23 million for the quarter, compared to analyst estimates of $79.38 million.
Several analysts have recently issued reports on the stock. ValuEngine lowered shares of Culp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Raymond James raised shares of Culp from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of Culp from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.
NYSE CULP opened at $20.50 on Tuesday. Culp has a 12-month low of $17.05 and a 12-month high of $32.05. The company has a market capitalization of $253.96 million, a PE ratio of 13.76 and a beta of 0.25.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, March 29th. Culp’s dividend payout ratio (DPR) is currently 26.85%.
In other Culp news, Director Fred A. Jackson purchased 3,000 shares of the stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $17.57 per share, with a total value of $52,710.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.70% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Culp by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 98,119 shares of the textile maker’s stock valued at $1,854,000 after acquiring an additional 6,487 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Culp by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 780,927 shares of the textile maker’s stock valued at $14,760,000 after acquiring an additional 17,927 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in Culp by 370.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,099 shares of the textile maker’s stock valued at $77,000 after acquiring an additional 3,227 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Culp by 4.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 26,675 shares of the textile maker’s stock valued at $504,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Culp by 41.7% during the fourth quarter. Two Sigma Investments LP now owns 20,616 shares of the textile maker’s stock valued at $390,000 after acquiring an additional 6,069 shares in the last quarter. 86.83% of the stock is owned by institutional investors.
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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