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

Columbia Sportswear (NASDAQ:COLM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.700-4.050 for the period, compared to the consensus estimate of 3.820. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Columbia Sportswear also updated its FY24 guidance to $3.70-$4.05 EPS.

Wall Street Analysts Forecast Growth

COLM has been the topic of a number of recent research reports. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Columbia Sportswear in a research note on Thursday, July 18th. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a report on Friday. Finally, Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their price target for the company from $84.00 to $92.00 in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.00.

Columbia Sportswear Stock Down 0.1 %

Shares of COLM traded down $0.12 during mid-day trading on Friday, hitting $80.35. 852,835 shares of the company’s stock traded hands, compared to its average volume of 462,096. The firm has a market capitalization of $4.70 billion, a P/E ratio of 22.20, a PEG ratio of 2.87 and a beta of 0.92. The business’s 50-day moving average price is $80.95 and its 200-day moving average price is $80.80. Columbia Sportswear has a 1 year low of $73.04 and a 1 year high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. Columbia Sportswear had a return on equity of 12.31% and a net margin of 6.42%. The business had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. During the same period last year, the company earned $1.70 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Columbia Sportswear will post 3.8 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Columbia Sportswear’s dividend payout ratio is presently 33.15%.

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.