Columbia Sportswear (NASDAQ:COLM) Releases FY24 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.65-4.05 for the period, compared to the consensus EPS estimate of $3.87. The company issued revenue guidance of $3.35-3.42 billion, compared to the consensus revenue estimate of $3.39 billion. Columbia Sportswear also updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Stock Down 1.1 %

NASDAQ:COLM traded down $0.84 during trading hours on Friday, reaching $76.38. 962,117 shares of the company’s stock were exchanged, compared to its average volume of 489,520. The company has a market capitalization 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 has a 12 month low of $66.01 and a 12 month high of $87.23. The business’s 50-day simple moving average is $81.08 and its two-hundred day simple moving average is $79.99.

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

Columbia Sportswear Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wedbush restated a neutral rating and set a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. StockNews.com raised shares of Columbia Sportswear from a hold rating to a buy rating in a research note on Monday, June 3rd. Finally, Stifel Nicolaus raised Columbia Sportswear from a hold rating to a buy rating and raised their target price for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Columbia Sportswear presently has an average rating of Hold and an average target price of $78.20.

Insider Buying and Selling at Columbia Sportswear

In related news, Director Sabrina Simmons sold 523 shares of the stock in a transaction on Thursday, May 2nd. The stock was 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 directly owns 6,483 shares in the company, valued at $529,661.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Columbia Sportswear news, CFO Jim A. Swanson sold 7,199 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sabrina Simmons sold 523 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $81.70, for a total value 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 disclosure for this sale can be found here. Company insiders own 44.70% 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.