Analysts expect Culp, Inc. (NYSE:CULP) to announce sales of $71.91 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Culp’s earnings. The lowest sales estimate is $71.23 million and the highest is $72.90 million. Culp reported sales of $79.53 million during the same quarter last year, which indicates a negative year over year growth rate of 9.6%. The company is scheduled to report its next earnings report on Wednesday, August 29th.

According to Zacks, analysts expect that Culp will report full-year sales of $331.70 million for the current fiscal year, with estimates ranging from $320.78 million to $341.33 million. For the next fiscal year, analysts anticipate that the business will post sales of $361.64 million per share, with estimates ranging from $361.59 million to $361.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Culp.

Culp (NYSE:CULP) last issued its earnings results on Wednesday, June 13th. The textile maker reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.06). Culp had a return on equity of 12.16% and a net margin of 6.45%. The business had revenue of $78.18 million for the quarter, compared to the consensus estimate of $78.35 million.

Several analysts recently issued reports on CULP shares. ValuEngine downgraded Culp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. TheStreet upgraded Culp from a “c+” rating to a “b-” rating in a research note on Wednesday, June 6th. Finally, Zacks Investment Research downgraded Culp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 19th.

In related news, Director Fred A. Jackson acquired 5,000 shares of the company’s stock in a transaction on Friday, June 29th. The stock was purchased at an average cost of $25.32 per share, with a total value of $126,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 11.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in shares of Culp during the 1st quarter worth $130,000. Citigroup Inc. acquired a new position in shares of Culp during the 1st quarter worth $135,000. MetLife Investment Advisors LLC acquired a new position in shares of Culp during the 1st quarter worth $143,000. American International Group Inc. acquired a new position in shares of Culp during the 1st quarter worth $214,000. Finally, Citadel Advisors LLC acquired a new position in shares of Culp during the 2nd quarter worth $234,000. 86.77% of the stock is owned by hedge funds and other institutional investors.

CULP traded down $0.20 during trading on Friday, hitting $25.50. The stock had a trading volume of 15,510 shares, compared to its average volume of 25,584. The company has a market capitalization of $319.96 million, a PE ratio of 17.11 and a beta of 0.11. Culp has a one year low of $23.80 and a one year high of $34.05.

The company also recently declared a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Monday, July 2nd were paid a $0.09 dividend. The ex-dividend date was Friday, June 29th. This represents a $0.36 annualized dividend and a yield of 1.41%. Culp’s dividend payout ratio (DPR) is presently 24.16%.

About Culp

Culp, Inc manufacturers, 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 through two segments, Mattress Fabrics and Upholstery Fabrics.

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