Culp, Inc. to Post FY2024 Earnings of ($1.09) Per Share, Sidoti Csr Forecasts (NYSE:CULP)

Culp, Inc. (NYSE:CULP) – Investment analysts at Sidoti Csr lowered their FY2024 earnings per share (EPS) estimates for shares of Culp in a note issued to investors on Wednesday, April 17th. Sidoti Csr analyst A. Lebiedzinski now expects that the textile maker will earn ($1.09) per share for the year, down from their prior estimate of ($1.04). The consensus estimate for Culp’s current full-year earnings is ($1.04) per share. Sidoti Csr also issued estimates for Culp’s Q4 2024 earnings at ($0.40) EPS, Q1 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.03) EPS.

Culp (NYSE:CULP) last released its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The business had revenue of $60.42 million during the quarter, compared to analyst estimates of $58.98 million. Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%.

Separately, StockNews.com started coverage on Culp in a research report on Saturday. They set a “hold” rating for the company.

Culp Trading Up 0.9 %

Shares of NYSE:CULP opened at $4.52 on Friday. Culp has a 1-year low of $4.20 and a 1-year high of $5.99. The firm has a market capitalization of $56.36 million, a PE ratio of -4.11 and a beta of 1.29. The business’s 50 day moving average is $4.73 and its 200-day moving average is $5.17.

Institutional Investors Weigh In On Culp

A number of institutional investors and hedge funds have recently made changes to their positions in CULP. Gate City Capital Management LLC acquired a new stake in shares of Culp during the fourth quarter worth $6,010,000. Keeley Teton Advisors LLC grew its stake in shares of Culp by 23.8% during the first quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock worth $3,010,000 after purchasing an additional 72,775 shares during the period. Ancora Advisors LLC grew its stake in shares of Culp by 23.4% during the first quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock worth $4,295,000 after purchasing an additional 52,982 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Culp during the fourth quarter worth $256,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Culp during the fourth quarter worth $184,000. Institutional investors own 75.05% of the company’s stock.

About Culp

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 the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.