Columbia Sportswear (NASDAQ:COLM) Announces Quarterly Earnings Results

Columbia Sportswear (NASDAQ:COLM) issued its quarterly earnings results 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. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. The company had revenue of $769.98 million during the quarter, compared to analysts’ expectations of $740.62 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Trading Up 3.3 %

NASDAQ:COLM traded up $2.60 on Friday, reaching $81.61. 618,749 shares of the stock traded hands, compared to its average volume of 503,654. The company’s fifty day simple moving average is $78.82 and its 200 day simple moving average is $77.92. The company has a market capitalization of $4.85 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 12 month low of $66.01 and a 12 month high of $88.17.

Columbia Sportswear Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.47%. Columbia Sportswear’s payout ratio is 29.06%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Columbia Sportswear from $62.00 to $59.00 and set a “sell” rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus increased their price objective on Columbia Sportswear from $75.00 to $84.00 and gave the company a “hold” rating in a report on Friday. Finally, StockNews.com lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $78.60.

Insider Buying and Selling

In other Columbia Sportswear 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 transaction of $473,264.40. Following the transaction, the director now owns 16,857 shares in the company, valued at approximately $1,383,116.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Columbia Sportswear news, Director Ronald E. Nelson sold 5,768 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 16,857 shares in the company, valued at approximately $1,383,116.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen E. Babson sold 2,411 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 122,879 shares in the company, valued at $9,950,741.42. The disclosure for this sale can be found here. 43.00% of the stock is owned by company insiders.

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.