Zacks: Analysts Expect Columbia Sportswear Company (COLM) Will Post Quarterly Sales of $745.91 Million
Wall Street brokerages expect Columbia Sportswear Company (NASDAQ:COLM) to announce $745.91 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Columbia Sportswear’s earnings, with the lowest sales estimate coming in at $733.80 million and the highest estimate coming in at $784.14 million. Columbia Sportswear posted sales of $745.71 million during the same quarter last year, which suggests a positive year over year growth rate of 0%. The firm is scheduled to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that Columbia Sportswear will report full year sales of $745.91 million for the current financial year, with estimates ranging from $2.44 billion to $2.47 billion. For the next year, analysts expect that the firm will report sales of $2.57 billion per share, with estimates ranging from $2.56 billion to $2.62 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 27th. The textile maker reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.03. The firm had revenue of $398.90 million during the quarter, compared to analysts’ expectations of $394.53 million. Columbia Sportswear had a net margin of 8.01% and a return on equity of 12.31%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) earnings per share.
COLM has been the subject of several recent analyst reports. B. Riley reissued a “neutral” rating and issued a $61.00 price target on shares of Columbia Sportswear in a report on Sunday, April 30th. Zacks Investment Research lowered shares of Columbia Sportswear from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Buckingham Research reissued a “neutral” rating and issued a $58.00 price target on shares of Columbia Sportswear in a report on Monday, July 17th. Canaccord Genuity set a $60.00 price target on shares of Columbia Sportswear and gave the stock a “hold” rating in a report on Tuesday, July 25th. Finally, Cowen and Company set a $58.00 target price on shares of Columbia Sportswear and gave the stock a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $63.45.
In other news, Director Edward S. George sold 1,776 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $53.59, for a total transaction of $95,175.84. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $107,180. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 58.86% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank purchased a new position in shares of Columbia Sportswear during the second quarter valued at $214,000. BlackRock Inc. boosted its position in shares of Columbia Sportswear by 6.0% in the second quarter. BlackRock Inc. now owns 1,733,820 shares of the textile maker’s stock valued at $100,665,000 after buying an additional 98,264 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Columbia Sportswear by 3.7% in the second quarter. Nationwide Fund Advisors now owns 16,454 shares of the textile maker’s stock valued at $955,000 after buying an additional 591 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Columbia Sportswear by 2.9% in the second quarter. Teachers Advisors LLC now owns 236,855 shares of the textile maker’s stock valued at $13,752,000 after buying an additional 6,697 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Columbia Sportswear by 46.8% in the second quarter. Wells Fargo & Company MN now owns 130,679 shares of the textile maker’s stock valued at $7,588,000 after buying an additional 41,642 shares during the last quarter. 39.20% of the stock is currently owned by hedge funds and other institutional investors.
Columbia Sportswear (NASDAQ COLM) opened at 57.61 on Friday. The stock has a market capitalization of $4.02 billion, a PE ratio of 21.00 and a beta of 0.80. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $63.55. The company’s 50-day moving average is $57.66 and its 200 day moving average is $56.67.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.24%. Columbia Sportswear’s payout ratio is 26.47%.
Columbia Sportswear Company Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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