Columbia Sportswear (NASDAQ:COLM) Posts Earnings Results, Beats Expectations By $0.20 EPS

Columbia Sportswear (NASDAQ:COLM) posted its quarterly earnings data on Wednesday. The textile maker reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20, Briefing.com reports. The firm had revenue of $931.80 million during the quarter, compared to analyst estimates of $937.17 million. Columbia Sportswear had a net margin of 6.72% and a return on equity of 13.01%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. Columbia Sportswear updated its FY24 guidance to $3.70-$4.05 EPS and its FY 2024 guidance to 3.700-4.050 EPS.

Columbia Sportswear Trading Up 5.4 %

COLM stock traded up $4.10 during mid-day trading on Thursday, hitting $80.31. The stock had a trading volume of 565,303 shares, compared to its average volume of 456,292. Columbia Sportswear has a 1-year low of $71.21 and a 1-year high of $87.23. The company has a fifty day moving average of $81.04 and a 200 day moving average of $80.76. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 3.00 and a beta of 0.92.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on COLM shares. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and upped their target price for the company from $84.00 to $92.00 in a report on Monday, July 8th. Finally, StockNews.com lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Columbia Sportswear presently has an average rating of “Hold” and a consensus price target of $77.00.

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.