Columbia Sportswear (NASDAQ:COLM) Announces Earnings Results, Beats Expectations By $0.36 EPS

Columbia Sportswear (NASDAQ:COLM) released its quarterly earnings results on Thursday. The textile maker reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36, Briefing.com reports. Columbia Sportswear had a return on equity of 13.99% and a net margin of 7.20%. The firm had revenue of $769.98 million during the quarter, compared to analysts’ expectations of $740.62 million. During the same period last year, the firm posted $0.74 EPS. The business’s revenue was down 6.2% on a year-over-year basis. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Price Performance

COLM opened at $80.00 on Friday. The business’s 50-day moving average price is $78.82 and its two-hundred day moving average price is $77.92. Columbia Sportswear has a 1 year low of $66.01 and a 1 year high of $88.17. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 3.24 and a beta of 0.94.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Columbia Sportswear’s dividend payout ratio is 29.27%.

Insider Buying and Selling at Columbia Sportswear

In related news, Director Stephen E. Babson sold 2,411 shares of Columbia Sportswear stock in a transaction dated 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 $9,950,741.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Ronald E. Nelson sold 5,768 shares of Columbia Sportswear stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen E. Babson sold 2,411 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 122,879 shares in the company, valued at approximately $9,950,741.42. The disclosure for this sale can be found here. Company insiders own 43.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price target on Columbia Sportswear from $75.00 to $84.00 and gave the company a “hold” rating in a report on Friday. UBS Group lowered their target price on Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating for the company in a research note on Friday, February 2nd. Finally, StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Columbia Sportswear presently has an average rating of “Hold” and a consensus target price of $78.60.

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.