Zacks: Brokerages Expect Culp, Inc. (NYSE:CULP) to Announce $0.53 Earnings Per Share
Wall Street brokerages expect Culp, Inc. (NYSE:CULP) to announce earnings of $0.53 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Culp’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.52. Culp posted earnings per share of $0.56 during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.4%. The firm is expected to issue its next earnings report on Tuesday, August 29th.
On average, 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 anticipate that the firm 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 a mean average based on a survey of research analysts that follow Culp.
Culp (NYSE:CULP) last announced its earnings results on Tuesday, June 13th. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. The firm had revenue of $77.35 million for the quarter, compared to the consensus estimate of $76.32 million. Culp had a net margin of 7.21% and a return on equity of 17.87%.
Separately, ValuEngine lowered shares of Culp from a “buy” rating to a “hold” rating in a research report on Friday, June 9th.
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In related news, Chairman Robert G. Culp III sold 1,049 shares of Culp stock in a transaction that occurred 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 sale, the chairman now directly owns 101,294 shares in the company, valued at approximately $3,443,996. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 1,579 shares of company stock worth $53,686. 13.50% of the stock is owned by corporate insiders.
Culp (NYSE CULP) opened at 30.95 on Friday. The company has a P/E ratio of 17.39. The company has a 50-day moving average of $32.67 and a 200 day moving average of $32.50. Culp has a one year low of $26.72 and a one year high of $37.80.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. Culp’s payout ratio is currently 17.88%.
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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