Columbia Sportswear (NASDAQ:COLM) Issues FY 2024 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.650-4.050 for the period, compared to the consensus estimate of 3.660. The company issued revenue guidance of $3.4 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion.

Analyst Upgrades and Downgrades

COLM has been the topic of a number of research analyst reports. UBS Group decreased their price target on Columbia Sportswear from $62.00 to $59.00 and set a sell rating on the stock in a research note on Friday, February 2nd. StockNews.com lowered shares of Columbia Sportswear from a buy rating to a hold rating in a report on Tuesday, January 9th. Finally, Stifel Nicolaus increased their target price on Columbia Sportswear from $75.00 to $84.00 and gave the stock a hold rating in a research report on Friday. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $78.60.

Columbia Sportswear Price Performance

Shares of NASDAQ:COLM traded up $0.99 during midday trading on Friday, reaching $80.00. The company had a trading volume of 1,713,696 shares, compared to its average volume of 471,881. Columbia Sportswear has a one year low of $66.01 and a one year high of $88.17. The stock’s fifty day moving average price is $78.80 and its 200-day moving average price is $78.04. The stock has a market capitalization of $4.76 billion, a P/E ratio of 19.51, a PEG ratio of 3.28 and a beta of 0.94.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. The company had revenue of $769.98 million for the quarter, compared to analyst estimates of $740.62 million. Columbia Sportswear had a return on equity of 13.99% and a net margin of 7.20%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. As a group, sell-side analysts forecast that Columbia Sportswear will post 3.69 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The company 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. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. Columbia Sportswear’s dividend payout ratio (DPR) is 29.27%.

Insider Buying and Selling at Columbia Sportswear

In other news, Director Stephen E. Babson sold 2,411 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $80.98, for a total value of $195,242.78. Following the sale, the director now owns 122,879 shares of the company’s stock, valued at approximately $9,950,741.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Stephen E. Babson sold 2,411 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $80.98, for a total value of $195,242.78. Following the sale, the director now directly owns 122,879 shares in the company, valued at approximately $9,950,741.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald E. Nelson sold 5,768 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total transaction of $473,264.40. Following the sale, the director now owns 16,857 shares of the company’s stock, valued at $1,383,116.85. The disclosure for this sale can be found here. 43.00% of the stock is currently owned by corporate 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.