Columbia Sportswear (NASDAQ:COLM) Issues 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 the consensus estimate of $0.35 by $0.36, Briefing.com reports. Columbia Sportswear had a net margin of 7.20% and a return on equity of 13.99%. The company had revenue of $769.98 million during the quarter, compared to analyst estimates of $740.62 million. During the same quarter last year, the business posted $0.74 EPS. Columbia Sportswear’s quarterly revenue was down 6.2% compared to the same quarter last year. 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. Columbia Sportswear has a 52-week low of $66.01 and a 52-week high of $88.17. The company has a market capitalization of $4.76 billion, a P/E ratio of 19.51, a P/E/G ratio of 3.24 and a beta of 0.94. The company has a fifty day moving average of $78.82 and a 200-day moving average of $77.92.

Columbia Sportswear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Columbia Sportswear’s dividend payout ratio is currently 29.27%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group decreased their price target 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. StockNews.com lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus raised their price target on shares of Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $78.60.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,411 shares of Columbia Sportswear stock in a transaction on Monday, February 12th. The shares were sold at an average price of $80.98, for a total value of $195,242.78. Following the transaction, the director now owns 122,879 shares in the company, valued at approximately $9,950,741.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Columbia Sportswear news, Director Ronald E. Nelson sold 5,768 shares of the business’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 transaction, the director now owns 16,857 shares in the company, valued at $1,383,116.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen E. Babson sold 2,411 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $80.98, for a total transaction of $195,242.78. Following the completion of the transaction, the director now owns 122,879 shares in the company, valued at approximately $9,950,741.42. The disclosure for this sale can be found here. 43.00% of the stock is owned by corporate insiders.

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.