$0.53 Earnings Per Share Expected for Culp, Inc. (CULP) This Quarter
Wall Street brokerages expect Culp, Inc. (NYSE:CULP) to post $0.53 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have issued estimates for Culp’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.54. Culp posted earnings per share of $0.56 in the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The business is expected to issue its next earnings results on Tuesday, August 29th.
According to Zacks, analysts expect that Culp will report full year earnings of $2.06 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.19. For the next financial year, analysts forecast that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.64 to $1.82. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Culp.
Culp (NYSE:CULP) last posted its quarterly earnings results on Tuesday, June 13th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The firm had revenue of $77.35 million for the quarter, compared to analyst estimates of $76.32 million. Culp had a net margin of 7.21% and a return on equity of 17.87%.
Separately, ValuEngine downgraded shares of Culp from a “buy” rating to a “hold” rating in a research note on Friday, June 9th.
In other news, Chairman Robert G. Culp III sold 1,049 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $34.00, for a total transaction of $35,666.00. Following the completion of the sale, the chairman now owns 101,294 shares of the company’s stock, valued at $3,443,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,579 shares of company stock valued at $53,686 in the last three months. 13.50% of the stock is owned by insiders.
Culp (NYSE CULP) opened at 30.95 on Friday. The firm has a price-to-earnings ratio of 17.39. Culp has a 52-week low of $26.72 and a 52-week high of $37.80. The firm has a 50-day moving average of $32.67 and a 200 day moving average of $32.50.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, June 29th. Culp’s dividend payout ratio is 17.88%.
Culp Company Profile
Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.
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