Analysts forecast that Columbia Sportswear (NASDAQ:COLM) will announce sales of $790.33 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Columbia Sportswear’s earnings, with the highest sales estimate coming in at $792.90 million and the lowest estimate coming in at $788.20 million. Columbia Sportswear posted sales of $747.37 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The business is expected to announce its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that Columbia Sportswear will report full-year sales of $2.70 billion for the current financial year, with estimates ranging from $2.68 billion to $2.72 billion. For the next year, analysts anticipate that the firm will report sales of $2.86 billion per share, with estimates ranging from $2.81 billion to $2.92 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.26. Columbia Sportswear had a return on equity of 14.79% and a net margin of 5.19%. The business had revenue of $481.62 million during the quarter, compared to the consensus estimate of $453.27 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis.
In other Columbia Sportswear news, CAO Peter J. Bragdon sold 12,005 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $89.09, for a total value of $1,069,525.45. Following the completion of the sale, the chief accounting officer now owns 31,845 shares in the company, valued at $2,837,071.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward S. George sold 5,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $91.30, for a total value of $459,239.00. Following the completion of the sale, the director now owns 7,030 shares of the company’s stock, valued at approximately $641,839. The disclosure for this sale can be found here. Insiders sold 18,535 shares of company stock valued at $1,665,264 over the last ninety days. 56.68% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of COLM. Acadian Asset Management LLC lifted its stake in Columbia Sportswear by 158.4% in the second quarter. Acadian Asset Management LLC now owns 767,272 shares of the textile maker’s stock valued at $70,182,000 after buying an additional 470,349 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Columbia Sportswear by 11,253.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 399,884 shares of the textile maker’s stock valued at $36,577,000 after buying an additional 396,362 shares during the last quarter. Prudential Financial Inc. lifted its stake in Columbia Sportswear by 4,968.5% in the first quarter. Prudential Financial Inc. now owns 224,688 shares of the textile maker’s stock valued at $17,173,000 after buying an additional 220,255 shares during the last quarter. Millennium Management LLC lifted its stake in Columbia Sportswear by 78.3% in the second quarter. Millennium Management LLC now owns 393,306 shares of the textile maker’s stock valued at $35,976,000 after buying an additional 172,688 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Columbia Sportswear by 41.8% in the first quarter. Lord Abbett & CO. LLC now owns 509,997 shares of the textile maker’s stock valued at $38,979,000 after buying an additional 150,337 shares during the last quarter. Institutional investors own 39.56% of the company’s stock.
Shares of Columbia Sportswear stock opened at $89.54 on Friday. Columbia Sportswear has a one year low of $54.89 and a one year high of $95.58. The stock has a market cap of $6.31 billion, a PE ratio of 30.05, a P/E/G ratio of 2.41 and a beta of 0.87.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Investors of record on Thursday, August 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, August 15th. Columbia Sportswear’s dividend payout ratio (DPR) is 29.53%.
Columbia Sportswear declared that its Board of Directors has initiated a share buyback plan on Monday, August 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the textile maker to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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