Analysts expect Culp, Inc. (NYSE:CULP) to post $78.88 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Culp’s earnings. The lowest sales estimate is $76.62 million and the highest is $82.11 million. Culp posted sales of $78.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The business is expected to announce its next earnings results on Wednesday, June 12th.
On average, analysts expect that Culp will report full-year sales of $305.34 million for the current fiscal year, with estimates ranging from $302.33 million to $310.09 million. For the next year, analysts expect 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 an average based on a survey of sell-side analysts that follow Culp.
Culp (NYSE:CULP) last announced its earnings results on Wednesday, February 27th. The textile maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $77.23 million during the quarter, compared to the consensus estimate of $79.38 million. Culp had a net margin of 6.49% and a return on equity of 8.11%.
Shares of CULP stock opened at $20.50 on Tuesday. The stock has a market cap of $253.96 million, a P/E ratio of 13.76 and a beta of 0.25. Culp has a 52 week low of $17.05 and a 52 week high of $32.05.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, March 29th. Culp’s dividend payout ratio is currently 26.85%.
In other Culp news, Director Fred A. Jackson acquired 3,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased 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 SEC, which can be accessed through the SEC website. Insiders own 11.70% of the company’s stock.
Several large investors have recently modified their holdings of CULP. Martingale Asset Management L P raised its position in shares of Culp by 20.9% in the 3rd quarter. Martingale Asset Management L P now owns 49,824 shares of the textile maker’s stock valued at $1,206,000 after buying an additional 8,610 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Culp by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 763,000 shares of the textile maker’s stock valued at $18,464,000 after buying an additional 21,631 shares in the last quarter. Standard Life Aberdeen plc raised its position in shares of Culp by 6.1% in the 3rd quarter. Standard Life Aberdeen plc now owns 1,489,363 shares of the textile maker’s stock valued at $36,043,000 after buying an additional 85,401 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Culp by 4.2% in the 3rd quarter. Renaissance Technologies LLC now owns 666,100 shares of the textile maker’s stock valued at $16,120,000 after buying an additional 26,900 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of Culp by 68.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,924 shares of the textile maker’s stock valued at $192,000 after buying an additional 3,227 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.
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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