Columbia Sportswear (NASDAQ:COLM) Issues 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com upgraded 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 upped their price objective for the company from $84.00 to $92.00 in a report on Monday, July 8th. Finally, Wedbush reiterated a neutral rating and issued a $80.00 price objective on shares of Columbia Sportswear in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $78.20.

Columbia Sportswear Price Performance

COLM traded down $0.84 during trading hours on Friday, reaching $76.38. The company’s stock had a trading volume of 962,119 shares, compared to its average volume of 487,772. Columbia Sportswear has a fifty-two week low of $66.01 and a fifty-two week high of $87.23. The stock has a market cap of $4.52 billion, a PE ratio of 18.63, a P/E/G ratio of 3.15 and a beta of 0.94. The business’s 50-day moving average is $80.93 and its 200-day moving average is $79.99.

Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.14. The company had revenue of $570.20 million for the quarter, compared to analyst estimates of $569.37 million. Columbia Sportswear had a return on equity of 12.85% and a net margin of 6.72%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. Analysts expect that Columbia Sportswear will post 3.85 EPS for the current year.

Columbia Sportswear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders 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 yield of 1.57%. The ex-dividend date of this dividend is Thursday, August 15th. Columbia Sportswear’s payout ratio is 29.27%.

Insider Buying and Selling at Columbia Sportswear

In other Columbia Sportswear news, CFO Jim A. Swanson sold 7,199 shares of the business’s 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 owns 9,423 shares of the company’s stock, valued at $730,282.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Columbia Sportswear news, CFO Jim A. Swanson sold 7,199 shares of the business’s 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 owns 9,423 shares of the company’s stock, valued at $730,282.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sabrina Simmons sold 523 shares of the business’s 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 approximately $529,661.10. The disclosure for this sale can be found here. 44.70% of the stock is 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.