$78.56 Million in Sales Expected for Culp, Inc. (CULP) This Quarter

Equities analysts forecast that Culp, Inc. (NYSE:CULP) will report $78.56 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Culp’s earnings, with the highest sales estimate coming in at $79.45 million and the lowest estimate coming in at $77.92 million. Culp posted sales of $76.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The company is scheduled to issue its next earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Culp will report full-year sales of $78.56 million for the current year, with estimates ranging from $317.05 million to $320.43 million. For the next fiscal year, analysts anticipate that the company will report sales of $327.32 million per share, with estimates ranging from $324.63 million to $330.76 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Culp.

Culp (NYSE:CULP) last released its quarterly earnings results on Thursday, November 30th. The textile maker reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Culp had a net margin of 6.85% and a return on equity of 14.14%.

Several analysts recently weighed in on CULP shares. ValuEngine upgraded shares of Culp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Culp from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 31st.

Shares of Culp (CULP) opened at $31.35 on Friday. The firm has a market cap of $389.85, a price-to-earnings ratio of 18.33 and a beta of 0.25. Culp has a fifty-two week low of $26.15 and a fifty-two week high of $34.50.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were issued a $0.09 dividend. The ex-dividend date was Friday, December 29th. This represents a $0.36 annualized dividend and a yield of 1.15%. This is a boost from Culp’s previous quarterly dividend of $0.08. Culp’s payout ratio is 21.05%.

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About Culp

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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