Columbia Sportswear (NASDAQ:COLM) Issues Quarterly Earnings Results

Columbia Sportswear (NASDAQ:COLM - Get Free Report) issued its quarterly earnings results on Thursday. The textile maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.36, Briefing.com reports. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. The firm had revenue of $769.98 million for the quarter, compared to analysts' expectations of $740.62 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. Columbia Sportswear updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Stock Up 1.3 %

Shares of Columbia Sportswear stock traded up $0.99 during trading on Friday, hitting $80.00. 1,713,696 shares of the company were exchanged, compared to its average volume of 517,802. Columbia Sportswear has a fifty-two week low of $66.01 and a fifty-two week high of $88.17. The firm has a 50 day moving average price of $78.82 and a 200 day moving average price of $77.92. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 3.27 and a beta of 0.94.

Columbia Sportswear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Columbia Sportswear's dividend payout ratio is presently 29.06%.

Analyst Ratings Changes

Several brokerages recently weighed in on COLM. Stifel Nicolaus increased their price target on Columbia Sportswear from $75.00 to $84.00 and gave the stock a "hold" rating in a report on Friday. UBS Group reduced their target price on Columbia Sportswear from $62.00 to $59.00 and set a "sell" rating for the company in a report on Friday, February 2nd. Finally, StockNews.com cut shares of Columbia Sportswear from a "buy" rating to a "hold" rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Columbia Sportswear has a consensus rating of "Hold" and a consensus price target of $78.60.

Insider Buying and Selling at Columbia Sportswear

In related news, Director Stephen E. Babson sold 2,411 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $80.98, for a total value of $195,242.78. Following the completion of the transaction, the director now owns 122,879 shares of the company's stock, valued at approximately $9,950,741.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ronald E. Nelson sold 5,768 shares of Columbia Sportswear stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $82.05, for a total value of $473,264.40. Following the completion of the sale, the director now owns 16,857 shares of the company's stock, valued at $1,383,116.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen E. Babson sold 2,411 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $80.98, for a total value of $195,242.78. Following the transaction, the director now owns 122,879 shares in the company, valued at $9,950,741.42. The disclosure for this sale can be found here. 43.00% of the stock is owned by 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.