Columbia Sportswear (NASDAQ:COLM) Announces Quarterly Earnings Results

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

Columbia Sportswear Stock Up 2.1 %

COLM traded up $1.68 during mid-day trading on Friday, reaching $80.69. 734,130 shares of the company traded hands, compared to its average volume of 505,312. The stock has a market capitalization of $4.80 billion, a P/E ratio of 19.76, a P/E/G ratio of 3.27 and a beta of 0.94. The company’s fifty day moving average price is $78.82 and its 200-day moving average price is $77.92. Columbia Sportswear has a 52-week low of $66.01 and a 52-week high of $88.17.

Columbia Sportswear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Columbia Sportswear’s dividend payout ratio is presently 29.06%.

Analyst Ratings Changes

Several research firms have weighed in on COLM. StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Stifel Nicolaus boosted their price target on Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research report on Friday. Finally, UBS Group dropped their price target on Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating on the stock in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.60.

Insider Buying and Selling at Columbia Sportswear

In other 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Columbia Sportswear news, Director Stephen E. Babson sold 2,411 shares of the 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 completion of the sale, the director now owns 122,879 shares in the company, valued at approximately $9,950,741.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald E. Nelson sold 5,768 shares of the stock in a transaction 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 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. Company 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.