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

Columbia Sportswear (NASDAQ:COLM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.700-4.050 for the period, compared to the consensus estimate of 3.820. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Columbia Sportswear also updated its FY24 guidance to $3.70-$4.05 EPS.

Analyst Ratings Changes

Several research firms recently weighed in on COLM. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. Stifel Nicolaus upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their price target for the company from $84.00 to $92.00 in a research report on Monday, July 8th. Finally, StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.00.

Columbia Sportswear Trading Down 0.1 %

Columbia Sportswear stock traded down $0.12 on Friday, hitting $80.35. 852,835 shares of the stock traded hands, compared to its average volume of 462,096. The business’s fifty day simple moving average is $80.95 and its 200 day simple moving average is $80.80. The firm has a market cap of $4.70 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.92. Columbia Sportswear has a 1 year low of $73.04 and a 1 year high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.31%. The business had revenue of $931.80 million for the quarter, compared to analysts’ expectations of $937.17 million. During the same quarter in the prior year, the company earned $1.70 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, analysts predict that Columbia Sportswear will post 3.8 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. Columbia Sportswear’s dividend payout ratio is currently 33.15%.

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.