Columbia Sportswear Co. (COLM) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Columbia Sportswear Co. (NASDAQ:COLM) announced its earnings results on Thursday. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $388.70 million for the quarter, compared to analysts’ expectations of $392.02 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Columbia Sportswear updated its FY16 guidance to ~$2.60-2.70 EPS.

Shares of Columbia Sportswear (NASDAQ:COLM) traded up 0.29% during mid-day trading on Thursday, reaching $59.47. The company had a trading volume of 179,603 shares. The firm’s 50-day moving average is $58.71 and its 200 day moving average is $56.92. The company has a market capitalization of $4.14 billion and a price-to-earnings ratio of 23.50. Columbia Sportswear has a 12 month low of $43.56 and a 12 month high of $74.72.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.14%.

COLM has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Columbia Sportswear from $60.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, April 19th. B. Riley reissued a “neutral” rating and set a $59.00 price target on shares of Columbia Sportswear in a research report on Tuesday, April 26th. Citigroup Inc. upped their price target on Columbia Sportswear from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, April 29th. Morgan Stanley reissued a “sell” rating on shares of Columbia Sportswear in a research report on Saturday, April 30th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Columbia Sportswear in a research report on Saturday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $62.44.

In other news, CAO Peter J. Bragdon sold 5,128 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $57.95, for a total value of $297,167.60. Following the sale, the chief accounting officer now directly owns 14,157 shares in the company, valued at $820,398.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Peter J. Bragdon sold 10,000 shares of the business’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $58.95, for a total value of $589,500.00. Following the completion of the sale, the chief accounting officer now owns 24,157 shares in the company, valued at $1,424,055.15. The disclosure for this sale can be found here.

Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor and active lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. The Company’s geographic segments are the United States, Latin America and Asia Pacific (LAAP), the Europe, Middle East and Africa (EMEA), and Canada.