Culp, Inc. (CULP) Expected to Post Quarterly Sales of $75.74 Million
Wall Street brokerages predict that Culp, Inc. (NYSE:CULP) will report sales of $75.74 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Culp’s earnings. The lowest sales estimate is $75.56 million and the highest is $76.09 million. Culp posted sales of $75.34 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.5%. The business is scheduled to issue its next earnings results on Thursday, December 7th.
On average, analysts expect that Culp will report full-year sales of $75.74 million for the current year, with estimates ranging from $310.70 million to $313.89 million. For the next fiscal year, analysts expect that the business will post sales of $321.84 million per share, with estimates ranging from $320.48 million to $323.99 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Culp.
Separately, ValuEngine lowered shares of Culp from a “buy” rating to a “hold” rating in a research report on Friday, June 9th.
Culp (CULP) opened at 31.00 on Friday. The company has a market capitalization of $383.07 million, a price-to-earnings ratio of 17.42 and a beta of 0.25. The stock has a 50 day moving average of $28.75 and a 200-day moving average of $31.26. Culp has a 52-week low of $26.80 and a 52-week high of $37.80.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, September 29th. Culp’s payout ratio is currently 18.18%.
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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