Columbia Sportswear (NASDAQ:COLM) Releases Earnings Results, Beats Estimates By $0.36 EPS

Columbia Sportswear (NASDAQ:COLM) issued its quarterly earnings results on Thursday. The textile maker reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36, Briefing.com reports. The company had revenue of $769.98 million for the quarter, compared to analyst estimates of $740.62 million. Columbia Sportswear had a net margin of 7.21% and a return on equity of 14.11%. Columbia Sportswear’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Price Performance

Shares of COLM traded up $2.60 on Friday, reaching $81.61. The company’s stock had a trading volume of 618,749 shares, compared to its average volume of 503,654. Columbia Sportswear has a 12-month low of $66.01 and a 12-month high of $88.17. The stock has a market capitalization of $4.85 billion, a P/E ratio of 19.76, a PEG ratio of 3.27 and a beta of 0.94. The stock’s 50 day simple moving average is $78.82 and its two-hundred day simple moving average is $77.92.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.47%. Columbia Sportswear’s payout ratio is 29.06%.

Analyst Ratings Changes

COLM has been the topic of several analyst reports. UBS Group cut their price target on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating on the stock in a report on Friday, February 2nd. StockNews.com lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus upped their price objective on shares of Columbia Sportswear from $75.00 to $84.00 and gave the company a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $78.60.

Insider Buying and Selling at Columbia Sportswear

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,411 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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. Insiders own 43.00% of the company’s stock.

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.