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

Columbia Sportswear (NASDAQ:COLM) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.650-4.050 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

COLM has been the subject of several recent analyst reports. UBS Group lowered their target price 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. StockNews.com lowered shares of Columbia Sportswear from a buy rating to a hold rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Columbia Sportswear currently has a consensus rating of Hold and a consensus price target of $78.00.

Columbia Sportswear Price Performance

Shares of NASDAQ:COLM traded down $0.77 during mid-day trading on Thursday, reaching $79.01. 862,762 shares of the company traded hands, compared to its average volume of 502,843. The company’s 50 day moving average price is $78.87 and its 200-day moving average price is $77.92. The firm has a market cap of $4.70 billion, a PE ratio of 19.32, a PEG ratio of 3.24 and a beta of 0.94. Columbia Sportswear has a 52 week low of $66.01 and a 52 week high of $88.17.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, February 1st. The textile maker reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.14). Columbia Sportswear had a net margin of 7.21% and a return on equity of 14.11%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. On average, research analysts predict that Columbia Sportswear will post 3.68 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. Columbia Sportswear’s payout ratio is currently 29.06%.

Insiders Place Their Bets

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

About Columbia Sportswear

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.