Wall Street analysts predict that Columbia Sportswear (NASDAQ:COLM – Get Rating) will post sales of $595.13 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Columbia Sportswear’s earnings, with the highest sales estimate coming in at $597.90 million and the lowest estimate coming in at $591.80 million. Columbia Sportswear posted sales of $566.37 million in the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Columbia Sportswear will report full-year sales of $3.67 billion for the current financial year, with estimates ranging from $3.63 billion to $3.69 billion. For the next financial year, analysts expect that the company will report sales of $3.89 billion, with estimates ranging from $3.83 billion to $3.98 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its earnings results on Thursday, April 28th. The textile maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.18. The firm had revenue of $761.50 million during the quarter, compared to the consensus estimate of $762.88 million. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share.
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A number of brokerages recently weighed in on COLM. Bank of America cut Columbia Sportswear from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $108.00 to $80.00 in a research note on Friday, April 29th. Robert W. Baird cut their price target on shares of Columbia Sportswear from $110.00 to $100.00 in a report on Friday, April 29th. Cowen raised their price objective on shares of Columbia Sportswear from $110.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 9th. Zacks Investment Research downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating and set a $92.00 target price on the stock. in a research note on Tuesday, April 12th. Finally, CL King upgraded Columbia Sportswear to a “buy” rating and set a $117.00 target price for the company in a report on Friday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.57.
In other Columbia Sportswear news, Director Ronald E. Nelson sold 3,706 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $80.16, for a total value of $297,072.96. Following the sale, the director now directly owns 14,402 shares in the company, valued at approximately $1,154,464.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen E. Babson sold 2,568 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $81.14, for a total transaction of $208,367.52. Following 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. 40.33% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of COLM. First Manhattan Co. lifted its stake in Columbia Sportswear by 304.9% during the third quarter. First Manhattan Co. now owns 332 shares of the textile maker’s stock worth $31,000 after purchasing an additional 250 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Columbia Sportswear in the 1st quarter worth approximately $31,000. Bedel Financial Consulting Inc. lifted its position in shares of Columbia Sportswear by 300.0% during the 4th quarter. Bedel Financial Consulting Inc. now owns 400 shares of the textile maker’s stock worth $39,000 after buying an additional 300 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Columbia Sportswear in the 4th quarter valued at $43,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Columbia Sportswear by 233.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 716 shares of the textile maker’s stock valued at $65,000 after acquiring an additional 501 shares during the period. Institutional investors and hedge funds own 48.65% of the company’s stock.
COLM stock opened at $75.84 on Tuesday. The firm has a market cap of $4.77 billion, a PE ratio of 13.66, a P/E/G ratio of 1.54 and a beta of 0.90. Columbia Sportswear has a 12 month low of $74.49 and a 12 month high of $108.47. The firm has a 50 day simple moving average of $88.19 and a 200 day simple moving average of $94.09.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Thursday, May 19th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, May 18th. Columbia Sportswear’s dividend payout ratio is currently 21.62%.
About Columbia Sportswear (Get Rating)
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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