Columbia Sportswear (NASDAQ:COLM) Issues Earnings Results

Columbia Sportswear (NASDAQ:COLM) posted its quarterly earnings results on Wednesday. The textile maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.36 by $0.20, Briefing.com reports. The company had revenue of $931.80 million during the quarter, compared to analysts’ expectations of $937.17 million. Columbia Sportswear had a return on equity of 12.31% and a net margin of 6.42%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.70 EPS. 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

Columbia Sportswear stock traded down $0.63 on Friday, reaching $79.84. The company’s stock had a trading volume of 212,981 shares, compared to its average volume of 459,015. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.87 and a beta of 0.92. The business’s fifty day moving average price is $81.01 and its 200 day moving average price is $80.76. Columbia Sportswear has a twelve month low of $73.04 and a twelve month high of $87.23.

Columbia Sportswear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, November 20th. Columbia Sportswear’s dividend payout ratio is currently 33.15%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Columbia Sportswear in a research note on Thursday, July 18th. Finally, Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and raised their target price for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.