Culp, Inc. (CULP) Expected to Post Quarterly Sales of $78.56 Million

Brokerages predict that Culp, Inc. (NYSE:CULP) will report sales of $78.56 million for the current quarter, Zacks reports. Three analysts have made estimates for Culp’s earnings. The highest sales estimate is $79.45 million and the lowest is $77.92 million. Culp reported sales of $76.17 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The company is scheduled to announce its next earnings results on Tuesday, February 27th.

On average, analysts expect that Culp will report full-year sales of $78.56 million for the current fiscal year, with estimates ranging from $317.05 million to $320.43 million. For the next financial year, analysts forecast that the firm 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 an average based on a survey of research firms that cover Culp.

Culp (NYSE:CULP) last posted its earnings results on Thursday, November 30th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Culp had a net margin of 6.85% and a return on equity of 14.14%. The company had revenue of $80.70 million during the quarter, compared to analyst estimates of $75.74 million.

CULP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Culp from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, January 31st. ValuEngine upgraded Culp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.

Shares of Culp (CULP) opened at $29.30 on Wednesday. Culp has a 12 month low of $26.15 and a 12 month high of $34.50. The firm has a market capitalization of $369.33, a P/E ratio of 17.03 and a beta of 0.09.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, December 29th. This is a positive change from Culp’s previous quarterly dividend of $0.08. Culp’s dividend payout ratio (DPR) is 20.93%.

WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/14/culp-inc-culp-expected-to-post-quarterly-sales-of-78-56-million.html.

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.

Get a free copy of the Zacks research report on Culp (CULP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Culp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Culp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply