Columbia Sportswear (NASDAQ:COLM) Updates Q3 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.27-1.43 for the period, compared to the consensus earnings per share estimate of $1.62. The company issued revenue guidance of $927-959 million, compared to the consensus revenue estimate of $966.41 million. Columbia Sportswear also updated its FY 2024 guidance to 3.650-4.050 EPS.

Analysts Set New Price Targets

A number of analysts have weighed in on COLM shares. Wedbush reissued a neutral rating and set a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. Stifel Nicolaus raised shares of Columbia Sportswear from a hold rating to a buy rating and raised their target price for the stock from $84.00 to $92.00 in a report on Monday, July 8th. Finally, StockNews.com raised Columbia Sportswear from a hold rating to a buy rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Columbia Sportswear currently has a consensus rating of Hold and a consensus price target of $78.20.

Columbia Sportswear Trading Down 1.1 %

Columbia Sportswear stock traded down $0.84 during midday trading on Friday, reaching $76.38. 962,119 shares of the stock traded hands, compared to its average volume of 487,772. Columbia Sportswear has a fifty-two week low of $66.01 and a fifty-two week high of $87.23. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.18 and a beta of 0.94. The firm has a fifty day moving average price of $80.93 and a two-hundred day moving average price of $79.99.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.14. Columbia Sportswear had a return on equity of 12.85% and a net margin of 6.72%. The business had revenue of $570.20 million during the quarter, compared to analyst estimates of $569.37 million. During the same period in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts anticipate that Columbia Sportswear will post 3.87 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, August 15th. Columbia Sportswear’s dividend payout ratio is currently 29.27%.

Insiders Place Their Bets

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

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.