Columbia Sportswear (NASDAQ:COLM) Announces Quarterly Earnings Results

Columbia Sportswear (NASDAQ:COLM) issued its quarterly earnings results on Thursday. The textile maker reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36, Briefing.com reports. The business had revenue of $769.98 million for the quarter, compared to the consensus estimate of $740.62 million. Columbia Sportswear had a return on equity of 13.99% and a net margin of 7.20%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Stock Performance

NASDAQ:COLM opened at $80.00 on Friday. The firm’s fifty day moving average is $78.80 and its two-hundred day moving average is $78.04. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 3.28 and a beta of 0.94. Columbia Sportswear has a one year low of $66.01 and a one year high of $88.17.

Columbia Sportswear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 29.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COLM shares. Stifel Nicolaus increased their price target on Columbia Sportswear from $75.00 to $84.00 and gave the company a “hold” rating in a research note on Friday. StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, UBS Group lowered their price objective on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, Columbia Sportswear currently has a consensus rating of “Hold” and an average price target of $78.60.

Insider Activity

In related news, Director Ronald E. Nelson sold 5,768 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total transaction of $473,264.40. Following the sale, the director now directly owns 16,857 shares of the company’s stock, valued at $1,383,116.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Columbia Sportswear news, Director Stephen E. Babson sold 2,411 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $80.98, for a total value of $195,242.78. Following the completion of the transaction, the director now owns 122,879 shares in the company, valued at $9,950,741.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronald E. Nelson sold 5,768 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total value of $473,264.40. Following the sale, the director now owns 16,857 shares in the company, valued at $1,383,116.85. The disclosure for this sale can be found here. Insiders own 43.00% of the company’s stock.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.