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

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

Columbia Sportswear Price Performance

Columbia Sportswear stock traded up $1.69 during midday trading on Friday, reaching $80.70. The stock had a trading volume of 800,723 shares, compared to its average volume of 506,002. The firm’s fifty day simple moving average is $78.82 and its two-hundred day simple moving average is $77.92. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 3.27 and a beta of 0.94. Columbia Sportswear has a twelve month low of $66.01 and a twelve month high of $88.17.

Columbia Sportswear Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Columbia Sportswear

In related news, Director Stephen E. Babson sold 2,411 shares of Columbia Sportswear stock in a transaction on Monday, February 12th. The shares were sold at an average price of $80.98, for a total value of $195,242.78. Following the transaction, the director now owns 122,879 shares in the company, valued at approximately $9,950,741.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 sale, the director now 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 is accessible 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 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 disclosure for this sale can be found here. Company insiders own 43.00% of the company’s stock.

About Columbia Sportswear

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.