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

Columbia Sportswear (NASDAQ:COLM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.650-4.050 for the period, compared to the consensus estimate of 3.660. The company issued revenue guidance of $3.4 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion.

Columbia Sportswear Stock Performance

Columbia Sportswear stock traded down $0.77 during midday trading on Thursday, reaching $79.01. The company’s stock had a trading volume of 862,762 shares, compared to its average volume of 502,843. The firm has a market capitalization of $4.70 billion, a PE ratio of 19.32, a P/E/G ratio of 3.24 and a beta of 0.94. Columbia Sportswear has a fifty-two week low of $66.01 and a fifty-two week high of $88.17. The stock’s 50 day simple moving average is $78.87 and its 200 day simple moving average is $77.92.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, February 1st. The textile maker reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.14). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. Columbia Sportswear had a return on equity of 14.11% and a net margin of 7.21%. Equities analysts predict that Columbia Sportswear will post 3.68 earnings per share for the current year.

Columbia Sportswear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.52%. Columbia Sportswear’s dividend payout ratio (DPR) is 29.06%.

Wall Street Analysts Forecast Growth

COLM has been the topic of several recent research reports. StockNews.com lowered Columbia Sportswear from a buy rating to a hold rating in a research report on Tuesday, January 9th. UBS Group decreased their price target on Columbia Sportswear from $62.00 to $59.00 and set a sell rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $78.00.

Insider Transactions at Columbia Sportswear

In other news, Director Ronald E. Nelson sold 5,768 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $82.05, for a total transaction of $473,264.40. Following the completion of the sale, the director now owns 16,857 shares of the company’s stock, valued at approximately $1,383,116.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Stephen E. Babson sold 2,411 shares of Columbia Sportswear stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $80.98, for a total transaction of $195,242.78. Following the completion of the sale, the director now owns 122,879 shares in the company, valued at approximately $9,950,741.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald E. Nelson sold 5,768 shares of the business’s stock in a transaction that occurred 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 approximately $1,383,116.85. The disclosure for this sale can be found here. Company insiders own 43.00% of the company’s stock.

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.