Wall Street brokerages predict that Culp, Inc. (NYSE:CULP) will post earnings per share of $0.08 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Culp’s earnings. Culp reported earnings of ($0.44) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 118.2%. The business is expected to announce its next quarterly earnings report on Wednesday, July 7th.
According to Zacks, analysts expect that Culp will report full year earnings of $0.39 per share for the current fiscal year, with EPS estimates ranging from $0.22 to $0.55. For the next financial year, analysts expect that the business will report earnings of $0.67 per share, with EPS estimates ranging from $0.65 to $0.68. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Culp.
Separately, Zacks Investment Research downgraded shares of Culp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 9th.
Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Culp by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 948,617 shares of the textile maker’s stock valued at $15,055,000 after buying an additional 21,900 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Culp by 5.1% in the first quarter. Russell Investments Group Ltd. now owns 558,753 shares of the textile maker’s stock valued at $8,597,000 after buying an additional 27,365 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Culp by 0.8% in the first quarter. Brown Advisory Inc. now owns 549,719 shares of the textile maker’s stock valued at $8,460,000 after buying an additional 4,517 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Culp by 4.8% in the first quarter. Ameriprise Financial Inc. now owns 480,086 shares of the textile maker’s stock valued at $7,389,000 after buying an additional 21,771 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of Culp by 32.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 382,000 shares of the textile maker’s stock valued at $5,879,000 after buying an additional 92,867 shares during the period. Institutional investors own 72.32% of the company’s stock.
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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