Columbia Sportswear (NASDAQ:COLM) Posts Quarterly 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36, Briefing.com reports. The firm 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 business’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Stock Up 1.3 %

Shares of NASDAQ COLM opened at $80.00 on Friday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94. Columbia Sportswear has a 52 week low of $66.01 and a 52 week high of $88.17. The firm has a 50-day moving average price of $78.80 and a 200 day moving average price of $78.04.

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Columbia Sportswear’s dividend payout ratio is presently 29.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COLM. UBS Group decreased their price target on Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating for the company in a report on Friday, February 2nd. Stifel Nicolaus raised their target price on shares of Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research note on Friday. Finally, StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.60.

Insiders Place Their Bets

In other news, Director Stephen E. Babson sold 2,411 shares of Columbia Sportswear stock in a transaction that occurred 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 in the company, valued at approximately $9,950,741.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Columbia Sportswear news, Director Stephen E. Babson sold 2,411 shares of the company’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 $9,950,741.42. The transaction was disclosed in a 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 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 transaction, the director now owns 16,857 shares of the company’s stock, valued at approximately $1,383,116.85. The disclosure for this sale can be found here. 43.00% of the stock is currently 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.