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

Columbia Sportswear (NASDAQ:COLM) updated its FY 2024 earnings guidance on Wednesday. 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.

Columbia Sportswear Trading Down 0.1 %

Columbia Sportswear stock traded down $0.12 during midday trading on Friday, hitting $80.35. The stock had a trading volume of 852,835 shares, compared to its average volume of 462,096. The stock has a market cap of $4.70 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.87 and a beta of 0.92. The business has a fifty day moving average price of $80.95 and a 200 day moving average price of $80.80. Columbia Sportswear has a 12 month low of $73.04 and a 12 month high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. The business had revenue of $931.80 million during the quarter, compared to analyst estimates of $937.17 million. Columbia Sportswear had a return on equity of 12.31% and a net margin of 6.42%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 EPS. On average, equities analysts anticipate that Columbia Sportswear will post 3.8 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company 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 $0.30 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.20 annualized dividend and a yield of 1.49%. Columbia Sportswear’s dividend payout ratio is presently 33.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on COLM shares. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Columbia Sportswear in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Columbia Sportswear currently has a consensus rating of “Hold” and an average price target 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.