Analysts Expect Culp, Inc. (CULP) to Post $0.25 EPS
Shares of Culp, Inc. (NYSE:CULP) have been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a 12-month consensus target price of $24.00 for the company and are anticipating that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 107 out of 255 based on the ratings given to its competitors.
Several research analysts recently commented on the company. Zacks Investment Research cut Culp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 4th. ValuEngine lowered Culp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd.
Culp (NYSE:CULP) last posted its earnings results on Thursday, November 29th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Culp had a net margin of 5.07% and a return on equity of 9.42%. The business had revenue of $77.01 million during the quarter, compared to analyst estimates of $76.32 million. On average, analysts predict that Culp will post 0.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 16th. Investors of record on Wednesday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Culp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, December 31st. Culp’s dividend payout ratio (DPR) is currently 26.85%.
Hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC increased its position in Culp by 68.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,924 shares of the textile maker’s stock valued at $192,000 after buying an additional 3,227 shares in the last quarter. Rhumbline Advisers boosted its stake in Culp by 43.1% during the 4th quarter. Rhumbline Advisers now owns 15,989 shares of the textile maker’s stock valued at $302,000 after purchasing an additional 4,812 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Culp by 38.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 30,431 shares of the textile maker’s stock worth $736,000 after buying an additional 8,482 shares during the last quarter. Isthmus Partners LLC boosted its stake in shares of Culp by 62.8% in the 4th quarter. Isthmus Partners LLC now owns 46,408 shares of the textile maker’s stock worth $877,000 after buying an additional 17,910 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in shares of Culp by 20.9% in the 3rd quarter. Martingale Asset Management L P now owns 49,824 shares of the textile maker’s stock worth $1,206,000 after buying an additional 8,610 shares during the last quarter. 84.83% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Article: Call Option
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.