$0.45 EPS Expected for Culp, Inc. (CFI) This Quarter
Wall Street brokerages expect Culp, Inc. (NYSE:CFI) to report earnings per share (EPS) of $0.45 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Culp’s earnings. Culp posted earnings of $0.47 per share in the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, June 21st.
On average, analysts expect that Culp will report full-year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.84 to $1.95. For the next financial year, analysts forecast that the firm will post earnings of $2.04 per share, with EPS estimates ranging from $2.00 to $2.07. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Culp.
Culp (NYSE:CFI) last issued its quarterly earnings data on Tuesday, February 28th. The textile maker reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The business had revenue of $76.17 million for the quarter, compared to analysts’ expectations of $77.85 million. Culp had a return on equity of 18.91% and a net margin of 5.85%.
Separately, Zacks Investment Research lowered Culp from a “hold” rating to a “sell” rating in a research note on Thursday, March 2nd.
Shares of Culp (NYSE:CFI) traded down 0.76% during mid-day trading on Thursday, hitting $32.75. The stock had a trading volume of 17,177 shares. Culp has a one year low of $26.24 and a one year high of $37.80. The stock has a market cap of $403.28 million, a P/E ratio of 20.73 and a beta of 0.51. The firm has a 50 day moving average of $31.95 and a 200-day moving average of $32.86.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 30th. Culp’s dividend payout ratio (DPR) is currently 21.77%.
In other Culp news, VP Boyd Brooks Chumbley sold 1,159 shares of Culp stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $30.95, for a total value of $35,871.05. Following the sale, the vice president now owns 16,531 shares in the company, valued at $511,634.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fred A. Jackson bought 5,000 shares of Culp stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $31.13 per share, for a total transaction of $155,650.00. Following the transaction, the director now directly owns 6,700 shares of the company’s stock, valued at $208,571. The disclosure for this purchase can be found here. Insiders have sold 103,345 shares of company stock worth $3,332,980 in the last three months. 13.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of CFI. Aberdeen Asset Management PLC UK increased its stake in Culp by 25.0% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,273,928 shares of the textile maker’s stock worth $39,747,000 after buying an additional 254,770 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Culp by 7.9% in the first quarter. Atlantic Trust Group LLC now owns 1,514,442 shares of the textile maker’s stock worth $47,251,000 after buying an additional 110,808 shares in the last quarter. American Century Companies Inc. increased its stake in Culp by 73.2% in the first quarter. American Century Companies Inc. now owns 212,250 shares of the textile maker’s stock worth $6,622,000 after buying an additional 89,682 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in Culp by 55.3% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 190,232 shares of the textile maker’s stock worth $5,935,000 after buying an additional 67,758 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Culp by 5.7% in the first quarter. Victory Capital Management Inc. now owns 816,116 shares of the textile maker’s stock worth $25,463,000 after buying an additional 44,287 shares in the last quarter. Institutional investors own 85.45% of the company’s stock.
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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