Columbia Sportswear (NASDAQ:COLM) to Post Q2 2024 Earnings of ($0.33) Per Share, Wedbush Forecasts

Columbia Sportswear (NASDAQ:COLM) – Wedbush issued their Q2 2024 earnings per share estimates for Columbia Sportswear in a note issued to investors on Thursday, July 18th. Wedbush analyst T. Nikic anticipates that the textile maker will post earnings per share of ($0.33) for the quarter. Wedbush has a “Neutral” rating and a $80.00 price objective on the stock. The consensus estimate for Columbia Sportswear’s current full-year earnings is $3.87 per share. Wedbush also issued estimates for Columbia Sportswear’s Q3 2024 earnings at $1.59 EPS, Q4 2024 earnings at $1.96 EPS, FY2024 earnings at $3.90 EPS and FY2025 earnings at $4.44 EPS.

Several other brokerages have also recently commented on COLM. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and raised their price objective for the company from $84.00 to $92.00 in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.20.

Columbia Sportswear Trading Up 0.5 %

COLM opened at $78.75 on Monday. The stock has a market capitalization of $4.66 billion, a P/E ratio of 19.21, a P/E/G ratio of 3.20 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 firm’s fifty day simple moving average is $81.44 and its 200 day simple moving average is $80.00.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, April 25th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. Columbia Sportswear had a return on equity of 13.98% and a net margin of 7.20%. The firm had revenue of $769.98 million during the quarter, compared to analysts’ expectations of $740.62 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis.

Institutional Trading of Columbia Sportswear

Several large investors have recently made changes to their positions in COLM. Vanguard Group Inc. boosted its stake in Columbia Sportswear by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker’s stock valued at $257,373,000 after buying an additional 21,104 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Columbia Sportswear by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 1,304,761 shares of the textile maker’s stock valued at $103,180,000 after purchasing an additional 13,636 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Columbia Sportswear by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,128,258 shares of the textile maker’s stock valued at $89,745,000 after purchasing an additional 104,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Columbia Sportswear by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 515,735 shares of the textile maker’s stock worth $41,022,000 after purchasing an additional 18,001 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Columbia Sportswear by 28.3% in the 4th quarter. First Trust Advisors LP now owns 476,608 shares of the textile maker’s stock valued at $37,909,000 after purchasing an additional 105,193 shares during the last quarter. Institutional investors and hedge funds own 47.76% of the company’s stock.

Insider Activity at Columbia Sportswear

In other news, Director Sabrina Simmons sold 523 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Sabrina Simmons sold 523 shares of Columbia Sportswear stock in a transaction that occurred on Thursday, May 2nd. The shares were 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 directly owns 6,483 shares in the company, valued at $529,661.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jim A. Swanson sold 7,199 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $77.50, for a total value of $557,922.50. Following the sale, the chief financial officer now directly owns 9,423 shares in the company, valued at approximately $730,282.50. The disclosure for this sale can be found here. 44.70% of the stock is currently owned by corporate insiders.

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.