Columbia Sportswear (NASDAQ:COLM) Issues Earnings Results, Beats Expectations By $0.36 EPS

Columbia Sportswear (NASDAQ:COLM) announced its earnings results on Thursday. The textile maker reported $0.71 earnings per share (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 during the quarter, compared to analysts’ expectations of $740.62 million. Columbia Sportswear had a net margin of 7.21% and a return on equity of 14.11%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Trading Up 2.1 %

COLM traded up $1.68 during trading on Friday, hitting $80.69. 734,130 shares of the company’s stock were exchanged, compared to its average volume of 505,312. Columbia Sportswear has a 1 year low of $66.01 and a 1 year high of $88.17. The stock has a 50 day moving average price of $78.82 and a 200 day moving average price of $77.92. The firm has a market cap of $4.80 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94.

Columbia Sportswear Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.49%. Columbia Sportswear’s dividend payout ratio is currently 29.06%.

Analyst Upgrades and Downgrades

COLM has been the subject of a number of research reports. Stifel Nicolaus lifted their target price on shares of Columbia Sportswear from $75.00 to $84.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group lowered their target price on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating for the company in a report on Friday, February 2nd. Finally, StockNews.com downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $78.60.

Insider Activity

In other news, Director Stephen E. Babson sold 2,411 shares of the company’s 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 completion of the transaction, the director now directly owns 122,879 shares in the company, valued at $9,950,741.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Stephen E. Babson sold 2,411 shares of the company’s 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 sale, the director now directly owns 122,879 shares of the company’s stock, valued at $9,950,741.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald E. Nelson sold 5,768 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total transaction of $473,264.40. Following the completion of the sale, the director now directly owns 16,857 shares in the company, valued at $1,383,116.85. The disclosure for this sale can be found here. 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.