Culp, Inc. (CULP) Expected to Post Quarterly Sales of $80.01 Million
Wall Street analysts expect Culp, Inc. (NYSE:CULP) to post $80.01 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Culp’s earnings. The highest sales estimate is $80.78 million and the lowest is $78.76 million. Culp posted sales of $80.68 million during the same quarter last year, which suggests a negative year over year growth rate of 0.8%. The company is expected to announce its next quarterly earnings results on Tuesday, August 29th.
According to Zacks, analysts expect that Culp will report full year sales of $80.01 million for the current financial year, with estimates ranging from $314.86 million to $317.00 million. For the next financial year, analysts forecast that the firm will report sales of $327.05 million per share, with estimates ranging from $325.01 million to $329.68 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Culp.
Culp (NYSE:CULP) last issued its quarterly earnings data on Tuesday, June 13th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Culp had a net margin of 7.21% and a return on equity of 17.87%. The company had revenue of $77.35 million during the quarter, compared to the consensus estimate of $76.32 million.
Separately, ValuEngine cut Culp from a “buy” rating to a “hold” rating in a research report on Friday, June 9th.
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In other news, Chairman Robert G. Culp III sold 1,049 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $34.00, for a total transaction of $35,666.00. Following the transaction, 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 is available at this hyperlink. Corporate insiders own 13.50% of the company’s stock.
Shares of Culp (NYSE:CULP) opened at 27.60 on Thursday. Culp has a 52-week low of $26.80 and a 52-week high of $37.80. The stock’s 50 day moving average is $31.18 and its 200-day moving average is $31.99. The firm has a market cap of $341.05 million, a P/E ratio of 15.51 and a beta of 0.23.
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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