Columbia Sportswear (NASDAQ:COLM) Posts Earnings Results, Beats Expectations By $0.20 EPS

Columbia Sportswear (NASDAQ:COLM) issued its quarterly earnings results on Wednesday. The textile maker reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20, Briefing.com reports. 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 in the previous year, the business earned $1.70 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Columbia Sportswear updated its FY24 guidance to $3.70-$4.05 EPS and its FY 2024 guidance to 3.700-4.050 EPS.

Columbia Sportswear Stock Performance

Shares of COLM stock opened at $80.35 on Friday. Columbia Sportswear has a 1 year low of $73.04 and a 1 year high of $87.23. The stock has a fifty day moving average of $81.01 and a two-hundred day moving average of $80.76. The firm has a market capitalization of $4.70 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.92.

Columbia Sportswear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend 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 currently 33.15%.

Analyst Ratings Changes

A number of equities 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 Friday. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. Finally, Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their price objective for the company from $84.00 to $92.00 in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $77.00.

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.