Wall Street brokerages expect Culp, Inc. (NYSE:CULP) to report earnings of $0.21 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Culp’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.20. Culp reported earnings of $0.32 per share in the same quarter last year, which indicates a negative year over year growth rate of 34.4%. The company is expected to announce its next quarterly earnings report on Thursday, November 29th.

According to Zacks, analysts expect that Culp will report full year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.14 to $1.31. For the next year, analysts forecast that the company will post earnings of $1.57 per share, with EPS estimates ranging from $1.42 to $1.71. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Culp.

Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, August 29th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The company had revenue of $71.47 million for the quarter, compared to the consensus estimate of $71.91 million. Culp had a net margin of 5.34% and a return on equity of 10.56%.

CULP has been the topic of several analyst reports. TheStreet raised shares of Culp from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. Stifel Nicolaus lowered their target price on shares of Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Zacks Investment Research raised shares of Culp from a “strong sell” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, August 14th. Finally, ValuEngine raised shares of Culp from a “sell” rating to a “hold” rating in a report on Monday, July 2nd.

In other news, Director Fred A. Jackson bought 5,000 shares of the stock in a transaction dated Friday, June 29th. The shares were acquired at an average price of $25.32 per share, with a total value of $126,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.70% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Culp by 24.2% in the second quarter. Victory Capital Management Inc. now owns 1,565,990 shares of the textile maker’s stock valued at $38,445,000 after acquiring an additional 304,645 shares in the last quarter. Atlantic Trust Group LLC acquired a new stake in shares of Culp in the first quarter valued at about $43,121,000. BlackRock Inc. lifted its stake in shares of Culp by 0.8% in the second quarter. BlackRock Inc. now owns 881,478 shares of the textile maker’s stock valued at $21,640,000 after purchasing an additional 6,814 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Culp by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 741,369 shares of the textile maker’s stock valued at $18,201,000 after purchasing an additional 6,459 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Culp by 2.3% in the second quarter. Renaissance Technologies LLC now owns 639,200 shares of the textile maker’s stock valued at $15,692,000 after purchasing an additional 14,100 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:CULP opened at $24.80 on Monday. The stock has a market capitalization of $310.55 million, a PE ratio of 16.64 and a beta of 0.11. The company has a current ratio of 3.33, a quick ratio of 1.82 and a debt-to-equity ratio of 0.02. Culp has a fifty-two week low of $22.80 and a fifty-two week high of $34.05.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, September 28th. Culp’s payout ratio is 24.16%.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

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