Culp, Inc. (NYSE:CULP) Expected to Post Earnings of $0.08 Per Share

Brokerages expect that Culp, Inc. (NYSE:CULP) will announce earnings of $0.08 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Culp’s earnings. Culp posted earnings of ($0.44) per share during the same quarter last year, which would indicate a positive year over year growth rate of 118.2%. The company is scheduled to issue its next quarterly earnings report on Wednesday, July 7th.

On average, analysts expect that Culp will report full year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.22 to $0.55. For the next year, analysts expect that the business will post earnings of $0.67 per share, with EPS estimates ranging from $0.65 to $0.68. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Culp.

Separately, Zacks Investment Research lowered Culp from a “buy” rating to a “hold” rating in a research report on Tuesday, March 9th.

Large investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. acquired a new stake in Culp during the fourth quarter worth $4,589,000. Brown Advisory Inc. increased its stake in Culp by 26.0% during the fourth quarter. Brown Advisory Inc. now owns 545,202 shares of the textile maker’s stock worth $8,652,000 after acquiring an additional 112,657 shares during the last quarter. Foundry Partners LLC increased its stake in Culp by 4.5% during the fourth quarter. Foundry Partners LLC now owns 238,140 shares of the textile maker’s stock worth $3,779,000 after acquiring an additional 10,210 shares during the last quarter. Renaissance Technologies LLC increased its stake in Culp by 2.4% during the fourth quarter. Renaissance Technologies LLC now owns 948,617 shares of the textile maker’s stock worth $15,055,000 after acquiring an additional 21,900 shares during the last quarter. Finally, Citigroup Inc. acquired a new stake in Culp during the fourth quarter worth $199,000. 72.32% of the stock is owned by hedge funds and other institutional investors.

Shares of Culp stock traded up $0.47 on Friday, reaching $17.35. The company had a trading volume of 6 shares, compared to its average volume of 31,774. The firm’s 50-day simple moving average is $15.07. Culp has a 1 year low of $7.49 and a 1 year high of $17.88. The firm has a market capitalization of $213.54 million, a price-to-earnings ratio of -8.18, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

Culp Company Profile

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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