Columbia Sportswear (COLM) Issues Earnings Results

Columbia Sportswear (NASDAQ:COLM) posted its quarterly earnings data on Thursday. The textile maker reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14, Fidelity Earnings reports. Columbia Sportswear had a return on equity of 14.79% and a net margin of 5.19%. The company had revenue of $795.80 million during the quarter, compared to analysts’ expectations of $791.25 million. Columbia Sportswear updated its FY 2018 guidance to $3.57-3.62 EPS.

Shares of COLM traded down $2.13 during mid-day trading on Friday, hitting $85.57. The company’s stock had a trading volume of 739,012 shares, compared to its average volume of 292,348. The stock has a market capitalization of $6.10 billion, a P/E ratio of 28.71, a P/E/G ratio of 2.31 and a beta of 0.77. Columbia Sportswear has a 1-year low of $60.76 and a 1-year high of $95.58.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be issued a $0.24 dividend. This is a boost from Columbia Sportswear’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.12%. Columbia Sportswear’s dividend payout ratio (DPR) is currently 29.53%.



A number of analysts have weighed in on the company. Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and increased their price objective for the stock from $93.00 to $103.00 in a research report on Friday. Canaccord Genuity set a $93.00 price objective on Columbia Sportswear and gave the stock a “hold” rating in a research report on Friday. Buckingham Research increased their price objective on Columbia Sportswear from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday. Citigroup increased their price objective on Columbia Sportswear from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, Macquarie set a $106.00 price objective on Columbia Sportswear and gave the stock a “hold” rating in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $90.00.

Columbia Sportswear announced that its board has approved a stock repurchase plan on Monday, August 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the textile maker to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Joseph P. Boyle sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $90.99, for a total value of $131,298.57. Following the completion of the sale, the executive vice president now directly owns 2,116,597 shares of the company’s stock, valued at approximately $192,589,161.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward S. George sold 5,030 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $91.30, for a total value of $459,239.00. Following the completion of the sale, the director now directly owns 7,030 shares of the company’s stock, valued at $641,839. The disclosure for this sale can be found here. Insiders sold a total of 8,661 shares of company stock valued at $789,646 over the last three months. Insiders own 56.68% of the company’s stock.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

Recommended Story: What are the risks of holding treasury bonds?

Earnings History for Columbia Sportswear (NASDAQ:COLM)

Receive News & Ratings for Columbia Sportswear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Sportswear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply