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

Columbia Sportswear (NASDAQ:COLM) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.650-4.050 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COLM. Wedbush reiterated a neutral rating and set a $80.00 price target on shares of Columbia Sportswear in a research report on Thursday, July 18th. Stifel Nicolaus upgraded Columbia Sportswear from a hold rating to a buy rating and boosted their target price for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. Finally, StockNews.com upgraded Columbia Sportswear from a hold rating to a buy rating in a research report on Monday, June 3rd. One investment 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. According to data from MarketBeat.com, Columbia Sportswear presently has an average rating of Hold and a consensus target price of $78.20.

Columbia Sportswear Stock Performance

NASDAQ:COLM traded down $0.84 during mid-day trading on Friday, reaching $76.38. The stock had a trading volume of 962,117 shares, compared to its average volume of 489,520. The firm has a 50 day moving average price of $81.08 and a two-hundred day moving average price of $79.99. The stock has a market capitalization of $4.52 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.23 and a beta of 0.94. Columbia Sportswear has a one year low of $66.01 and a one year high of $87.23.

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

Columbia Sportswear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 29.27%.

Insiders Place Their Bets

In other Columbia Sportswear news, CFO Jim A. Swanson sold 7,199 shares of Columbia Sportswear 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 transaction, the chief financial officer now directly owns 9,423 shares of the company’s stock, valued at approximately $730,282.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction of $42,729.10. Following the transaction, the director now directly owns 6,483 shares of the company’s stock, valued at $529,661.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jim A. Swanson sold 7,199 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $77.50, for a total value of $557,922.50. Following the transaction, the chief financial officer now directly owns 9,423 shares in the company, valued at $730,282.50. The disclosure for this sale can be found here. Insiders own 44.70% of the company’s stock.

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.