Columbia Sportswear (NASDAQ:COLM – Get Rating) – Equities research analysts at Seaport Res Ptn cut their Q4 2022 earnings estimates for Columbia Sportswear in a research report issued to clients and investors on Thursday, July 28th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will earn $2.40 per share for the quarter, down from their previous forecast of $2.44. The consensus estimate for Columbia Sportswear’s current full-year earnings is $5.83 per share.
A number of other equities research analysts also recently weighed in on COLM. Bank of America downgraded shares of Columbia Sportswear from a “neutral” rating to an “underperform” rating and cut their price target for the company from $108.00 to $80.00 in a report on Friday, April 29th. Cowen cut their price target on shares of Columbia Sportswear to $95.00 in a report on Monday. TheStreet downgraded shares of Columbia Sportswear from a “b” rating to a “c+” rating in a report on Thursday, April 28th. Stifel Nicolaus cut their price target on shares of Columbia Sportswear from $100.00 to $81.00 in a report on Wednesday, July 20th. Finally, Cowen reduced their price objective on shares of Columbia Sportswear from $116.00 to $100.00 in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.38.
Columbia Sportswear Trading Down 1.4 %
Shares of NASDAQ COLM opened at $73.67 on Friday. Columbia Sportswear has a twelve month low of $68.29 and a twelve month high of $107.50. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.47 and a beta of 0.91. The firm has a 50-day moving average of $74.62 and a two-hundred day moving average of $84.14.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The textile maker reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The business had revenue of $578.06 million during the quarter, compared to the consensus estimate of $592.35 million. Columbia Sportswear had a net margin of 11.19% and a return on equity of 19.34%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share.
Columbia Sportswear Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.63%. Columbia Sportswear’s dividend payout ratio is 21.62%.
In other news, Director Ronald E. Nelson sold 3,706 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $80.16, for a total value of $297,072.96. Following the transaction, the director now owns 14,402 shares in the company, valued at approximately $1,154,464.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ronald E. Nelson sold 3,706 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $80.16, for a total value of $297,072.96. Following the transaction, the director now owns 14,402 shares in the company, valued at $1,154,464.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen E. Babson sold 2,568 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $81.14, for a total value of $208,367.52. Following the completion of the transaction, the director now owns 112,627 shares in the company, valued at approximately $9,138,554.78. The disclosure for this sale can be found here. 42.37% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Columbia Sportswear
Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Columbia Sportswear in the first quarter worth approximately $27,000. Exchange Traded Concepts LLC acquired a new position in Columbia Sportswear in the first quarter worth approximately $31,000. Allspring Global Investments Holdings LLC acquired a new position in Columbia Sportswear in the fourth quarter worth approximately $43,000. Lazard Asset Management LLC acquired a new position in Columbia Sportswear during the first quarter valued at approximately $45,000. Finally, Northwest Investment Counselors LLC acquired a new position in Columbia Sportswear during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 48.65% of the company’s stock.
Columbia Sportswear Company Profile
Columbia Sportswear Company, together with its subsidiaries, designs, sources, 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 that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.
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