Columbia Sportswear (NASDAQ:COLM) Releases FY24 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.65-4.05 for the period, compared to the consensus EPS estimate of $3.87. The company issued revenue guidance of $3.35-3.42 billion, compared to the consensus revenue estimate of $3.39 billion. Columbia Sportswear also updated its FY 2024 guidance to 3.650-4.050 EPS.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wedbush reaffirmed a neutral rating and issued a $80.00 price objective on shares of Columbia Sportswear in a research note on Thursday, July 18th. StockNews.com upgraded shares of Columbia Sportswear from a hold rating to a buy rating in a research report on Monday, June 3rd. Finally, Stifel Nicolaus upgraded shares of Columbia Sportswear from a hold rating to a buy rating and lifted their price target for the stock from $84.00 to $92.00 in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Columbia Sportswear presently has an average rating of Hold and an average target price of $78.20.

Columbia Sportswear Stock Performance

Shares of NASDAQ:COLM traded down $0.84 during trading on Friday, reaching $76.38. The stock had a trading volume of 962,117 shares, compared to its average volume of 489,520. Columbia Sportswear has a 52 week low of $66.01 and a 52 week high of $87.23. The firm’s fifty day moving average is $81.08 and its 200 day moving average is $79.99. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 3.23 and a beta of 0.94.

Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, July 25th. The textile maker reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.11. The company had revenue of $570.20 million for the quarter, compared to analyst estimates of $569.37 million. Columbia Sportswear had a return on equity of 13.98% and a net margin of 7.20%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 EPS. On average, research analysts forecast that Columbia Sportswear will post 3.87 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Columbia Sportswear’s dividend payout ratio (DPR) is 29.27%.

Insider Activity

In other news, CFO Jim A. Swanson sold 7,199 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $77.50, for a total value of $557,922.50. Following the completion of the sale, the chief financial officer now directly owns 9,423 shares in the company, valued at approximately $730,282.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Jim A. Swanson sold 7,199 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $77.50, for a total transaction of $557,922.50. Following the transaction, the chief financial officer now directly owns 9,423 shares of the company’s stock, valued at $730,282.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sabrina Simmons sold 523 shares of Columbia Sportswear stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $81.70, for a total transaction of $42,729.10. Following the completion of the sale, the director now directly owns 6,483 shares of the company’s stock, valued at approximately $529,661.10. The disclosure for this sale can be found here. Company insiders own 44.70% of the company’s stock.

About Columbia Sportswear

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.