Columbia Sportswear (NASDAQ:COLM) – Equities research analysts at Wedbush cut their Q3 2019 earnings per share estimates for Columbia Sportswear in a report released on Friday, July 26th. Wedbush analyst C. Svezia now expects that the textile maker will post earnings of $1.53 per share for the quarter, down from their prior estimate of $1.62. Wedbush has a “Outperform” rating and a $124.00 price objective on the stock. Wedbush also issued estimates for Columbia Sportswear’s Q4 2019 earnings at $1.84 EPS and FY2020 earnings at $5.15 EPS.
COLM has been the subject of a number of other reports. Bank of America restated a “buy” rating and issued a $140.00 price objective on shares of Continental in a research note on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Monday, April 29th. B. Riley set a $109.00 price objective on shares of Columbia Sportswear and gave the stock a “hold” rating in a research note on Friday, July 26th. Pivotal Research restated a “buy” rating and issued a $500.00 price objective on shares of Charter Communications in a research note on Friday, July 26th. Finally, Stifel Nicolaus set a $129.00 price objective on shares of Columbia Sportswear and gave the stock a “buy” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $118.00.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.22. Columbia Sportswear had a net margin of 10.73% and a return on equity of 18.02%. The business had revenue of $526.21 million during the quarter, compared to analysts’ expectations of $507.16 million. During the same period in the previous year, the company earned $0.16 earnings per share. Columbia Sportswear’s revenue for the quarter was up 9.3% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the business. Financial Gravity Wealth Inc. increased its holdings in Columbia Sportswear by 4,581.8% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 515 shares of the textile maker’s stock valued at $52,000 after buying an additional 504 shares during the period. Quadrant Capital Group LLC bought a new stake in Columbia Sportswear in the 1st quarter valued at $61,000. Machina Capital S.A.S. increased its holdings in Columbia Sportswear by 17.9% in the 2nd quarter. Machina Capital S.A.S. now owns 1,000 shares of the textile maker’s stock valued at $100,000 after buying an additional 152 shares during the period. Anderson Fisher LLC bought a new stake in Columbia Sportswear in the 1st quarter valued at $111,000. Finally, Whittier Trust Co. bought a new stake in Columbia Sportswear in the 1st quarter valued at $156,000. 38.08% of the stock is currently owned by hedge funds and other institutional investors.
In other Columbia Sportswear news, Director Malia H. Wasson sold 8,693 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.83, for a total value of $919,980.19. Following the sale, the director now owns 6,849 shares of the company’s stock, valued at approximately $724,829.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Murrey R. Albers sold 11,608 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $97.32, for a total transaction of $1,129,690.56. Following the completion of the sale, the director now directly owns 39,350 shares in the company, valued at approximately $3,829,542. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,921 shares of company stock valued at $2,324,771. Corporate insiders own 56.57% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, August 14th. Columbia Sportswear’s payout ratio is currently 23.94%.
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 and 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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