Culp, Inc. Expected to Earn FY2024 Earnings of ($1.09) Per Share (NYSE:CULP)

Culp, Inc. (NYSE:CULP - Free Report) - Investment analysts at Sidoti Csr decreased their FY2024 EPS estimates for shares of Culp in a report issued on Wednesday, April 17th. Sidoti Csr analyst A. Lebiedzinski now anticipates that the textile maker will earn ($1.09) per share for the year, down from their previous forecast 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The company had revenue of $60.42 million for the quarter, compared to analysts' expectations of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%.

Separately, StockNews.com downgraded shares of Culp from a "buy" rating to a "hold" rating in a research report on Thursday, March 7th.

Culp Stock Performance

CULP traded up $0.04 on Friday, reaching $4.52. 21,531 shares of the company's stock were exchanged, compared to its average volume of 20,346. The company's 50 day moving average is $4.73 and its 200-day moving average is $5.17. The company has a market cap of $56.36 million, a price-to-earnings ratio of -4.11 and a beta of 1.29. Culp has a twelve month low of $4.20 and a twelve month high of $5.99.

Institutional Trading of Culp

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Culp during the 3rd quarter valued at approximately $68,000. State Street Corp boosted its stake in shares of Culp by 5.2% during the 1st quarter. State Street Corp now owns 41,621 shares of the textile maker's stock valued at $330,000 after buying an additional 2,071 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Culp by 58.2% during the 4th quarter. Northern Trust Corp now owns 47,006 shares of the textile maker's stock valued at $272,000 after buying an additional 17,296 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Culp during the 4th quarter valued at approximately $184,000. Finally, HighTower Advisors LLC boosted its stake in shares of Culp by 33.8% during the 3rd quarter. HighTower Advisors LLC now owns 21,332 shares of the textile maker's stock valued at $119,000 after buying an additional 5,394 shares during the last quarter. Institutional investors and hedge funds own 75.05% 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 the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.