Columbia Sportswear (NASDAQ:COLM) Announces Quarterly Earnings Results

Columbia Sportswear (NASDAQ:COLM) posted its earnings results on Thursday. The textile maker reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36, Briefing.com reports. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. The company had revenue of $769.98 million for the quarter, compared to analyst estimates of $740.62 million. During the same period last year, the company earned $0.74 earnings per share. The business’s 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 Trading Up 2.1 %

Columbia Sportswear stock traded up $1.69 during mid-day trading on Friday, reaching $80.70. The company had a trading volume of 800,723 shares, compared to its average volume of 506,002. The company has a market cap of $4.80 billion, a P/E ratio of 19.76, a P/E/G ratio of 3.27 and a beta of 0.94. The business has a fifty day simple moving average of $78.82 and a 200 day simple moving average of $77.92. Columbia Sportswear has a fifty-two week low of $66.01 and a fifty-two week high of $88.17.

Columbia Sportswear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Columbia Sportswear’s dividend payout ratio is currently 29.06%.

Wall Street Analysts Forecast Growth

COLM has been the subject of a number of analyst reports. UBS Group cut 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. Stifel Nicolaus boosted their price objective on shares of Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research report on Friday. Finally, StockNews.com cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Columbia Sportswear currently has an average rating of “Hold” and a consensus price target of $78.60.

Insider Transactions at Columbia Sportswear

In other 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 transaction of $195,242.78. Following the transaction, the director now owns 122,879 shares in the company, valued at $9,950,741.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Columbia Sportswear news, Director Ronald E. Nelson sold 5,768 shares of Columbia Sportswear stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total value of $473,264.40. Following the completion of the sale, the director now directly owns 16,857 shares of the company’s stock, valued at $1,383,116.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $195,242.78. Following the completion of the sale, the director now directly owns 122,879 shares of the company’s stock, valued at $9,950,741.42. The disclosure for this sale can be found here. 43.00% of the stock is owned by company 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.