Columbia Sportswear (NASDAQ:COLM) Releases FY24 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.65-4.05 for the period, compared to the consensus estimate of $3.87. The company issued revenue guidance of $3.35-3.42 billion, compared to the consensus revenue estimate of $3.39 billion. Columbia Sportswear also updated its FY 2024 guidance to 3.650-4.050 EPS.

Columbia Sportswear Stock Down 1.1 %

NASDAQ:COLM traded down $0.84 during mid-day trading on Friday, hitting $76.38. 962,117 shares of the company traded hands, compared to its average volume of 489,520. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 3.23 and a beta of 0.94. Columbia Sportswear has a one year low of $66.01 and a one year high of $87.23. The stock’s fifty day moving average price is $81.08 and its 200-day moving average price is $79.99.

Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.11. The company had revenue of $570.20 million during the quarter, compared to the consensus estimate of $569.37 million. Columbia Sportswear had a net margin of 7.20% and a return on equity of 13.98%. Columbia Sportswear’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Equities analysts predict that Columbia Sportswear will post 3.87 EPS for the current year.

Columbia Sportswear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Columbia Sportswear’s dividend payout ratio is currently 29.27%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com upgraded Columbia Sportswear from a hold rating to a buy rating in a research note on Monday, June 3rd. Wedbush restated a neutral rating and set a $80.00 target price on shares of Columbia Sportswear in a research report on Thursday, July 18th. Finally, Stifel Nicolaus raised shares of Columbia Sportswear from a hold rating to a buy rating and raised their target price for the company from $84.00 to $92.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $78.20.

Insiders Place Their Bets

In other news, CFO Jim A. Swanson sold 7,199 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $77.50, for a total value of $557,922.50. Following the sale, the chief financial officer now directly owns 9,423 shares in the company, valued at approximately $730,282.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Jim A. Swanson sold 7,199 shares of Columbia Sportswear stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $77.50, for a total value of $557,922.50. Following the completion of the transaction, the chief financial officer now owns 9,423 shares in the company, valued at approximately $730,282.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sabrina Simmons sold 523 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $81.70, for a total value of $42,729.10. Following the sale, the director now owns 6,483 shares in the company, valued at approximately $529,661.10. The disclosure for this sale can be found here. Corporate insiders own 44.70% of the company’s stock.

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.