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

Columbia Sportswear (NASDAQ:COLM) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.650-4.050 for the period, compared to the consensus EPS estimate of 3.880. The company issued revenue guidance of $3.4 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Columbia Sportswear also updated its FY24 guidance to $3.65-4.05 EPS.

Analyst Ratings Changes

A number of research firms have recently issued reports on COLM. Stifel Nicolaus upgraded shares of Columbia Sportswear from a hold rating to a buy rating and lifted their price objective for the company from $84.00 to $92.00 in a report on Monday, July 8th. Wedbush restated a neutral rating and set a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. Finally, StockNews.com upgraded shares of Columbia Sportswear from a hold rating to a buy rating in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $78.20.

Columbia Sportswear Stock Performance

COLM traded down $0.84 during trading on Friday, reaching $76.38. 962,117 shares of the stock were exchanged, compared to its average volume of 489,520. The stock’s 50 day moving average price is $81.08 and its two-hundred day moving average price is $79.99. Columbia Sportswear has a twelve month low of $66.01 and a twelve month high of $87.23. The stock has a market cap of $4.52 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 3.23 and a beta of 0.94.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, July 25th. The textile maker reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. Columbia Sportswear had a net margin of 7.20% and a return on equity of 13.98%. The firm had revenue of $570.20 million during the quarter, compared to analysts’ expectations of $569.37 million. During the same period in the previous year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts predict that Columbia Sportswear will post 3.87 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. Columbia Sportswear’s payout ratio is presently 29.27%.

Insider Activity

In other news, CFO Jim A. Swanson sold 7,199 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $77.50, for a total value of $557,922.50. Following the completion of the sale, the chief financial officer now owns 9,423 shares of the company’s stock, valued at $730,282.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Sabrina Simmons sold 523 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $81.70, for a total transaction of $42,729.10. Following the completion of the sale, the director now owns 6,483 shares of the company’s stock, valued at $529,661.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jim A. Swanson sold 7,199 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $77.50, for a total transaction of $557,922.50. Following the sale, the chief financial officer now directly owns 9,423 shares of the company’s stock, valued at approximately $730,282.50. The disclosure for this sale can be found here. 44.70% of the stock is currently 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.