Columbia Sportswear (NASDAQ:COLM) Announces Quarterly Earnings Results

Columbia Sportswear (NASDAQ:COLM) released its quarterly earnings results on Wednesday. The textile maker reported $1.56 earnings per share (EPS) for the quarter, topping 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 the consensus estimate 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 prior year, the company posted $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 Down 0.1 %

COLM opened at $80.35 on Friday. The firm has a market capitalization of $4.70 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.92. The stock’s 50 day moving average price is $81.01 and its two-hundred day moving average price is $80.76. Columbia Sportswear has a 12-month low of $73.04 and a 12-month high of $87.23.

Columbia Sportswear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, November 20th. Columbia Sportswear’s dividend payout ratio (DPR) is currently 33.15%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COLM. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Columbia Sportswear in a research note on Thursday, July 18th. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and upped their price target for the stock from $84.00 to $92.00 in a research note on Monday, July 8th. Finally, StockNews.com upgraded Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Columbia Sportswear has an average rating of “Hold” and an average price target of $77.00.

About Columbia Sportswear

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.