Wall Street analysts forecast that Columbia Sportswear (NASDAQ:COLM) will report sales of $1.06 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Columbia Sportswear’s earnings, with estimates ranging from $1.05 billion to $1.07 billion. Columbia Sportswear reported sales of $915.62 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.8%. The company is expected to issue its next earnings results after the market closes on Thursday, February 3rd.
According to Zacks, analysts expect that Columbia Sportswear will report full year sales of $3.06 billion for the current fiscal year, with estimates ranging from $3.05 billion to $3.06 billion. For the next year, analysts expect that the business will report sales of $3.51 billion, with estimates ranging from $3.49 billion to $3.53 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, October 28th. The textile maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.21. The firm had revenue of $804.70 million for the quarter, compared to the consensus estimate of $862.03 million. Columbia Sportswear had a net margin of 10.06% and a return on equity of 15.74%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share.
COLM has been the topic of a number of research analyst reports. Robert W. Baird downgraded shares of Columbia Sportswear from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $130.00 to $107.00 in a research report on Tuesday, January 4th. Seaport Res Ptn restated a “neutral” rating on shares of Columbia Sportswear in a research report on Tuesday, January 18th. Wolfe Research downgraded shares of Columbia Sportswear to a “neutral” rating in a research report on Tuesday, January 4th. Bank of America downgraded shares of Columbia Sportswear from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $137.00 to $108.00 in a research report on Tuesday, October 5th. Finally, Stifel Nicolaus downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating and lowered their price objective for the company from $126.00 to $111.00 in a research report on Thursday, December 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.67.
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Shares of NASDAQ COLM opened at $87.15 on Friday. The firm’s 50 day moving average price is $95.92 and its 200-day moving average price is $99.11. The company has a market cap of $5.68 billion, a PE ratio of 19.76, a P/E/G ratio of 0.51 and a beta of 0.90. Columbia Sportswear has a 52-week low of $85.28 and a 52-week high of $114.98.
In related news, Director Walter Klenz sold 1,192 shares of the firm’s stock in a transaction on Friday, November 12th. The shares were sold at an average price of $105.97, for a total transaction of $126,316.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 41.15% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Columbia Sportswear by 0.5% during the second quarter. BlackRock Inc. now owns 3,243,958 shares of the textile maker’s stock valued at $319,076,000 after purchasing an additional 15,659 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Columbia Sportswear by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,081,536 shares of the textile maker’s stock worth $303,100,000 after acquiring an additional 139,818 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Columbia Sportswear by 2.2% in the 3rd quarter. Invesco Ltd. now owns 1,362,159 shares of the textile maker’s stock worth $130,550,000 after acquiring an additional 29,946 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Columbia Sportswear by 7.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 912,468 shares of the textile maker’s stock worth $87,451,000 after acquiring an additional 60,473 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Columbia Sportswear by 20.3% in the 2nd quarter. State Street Corp now owns 843,215 shares of the textile maker’s stock worth $82,939,000 after acquiring an additional 142,542 shares during the last quarter. Institutional investors and hedge funds own 52.84% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Co engages in designing, sourcing, marketing, and distributing outdoor and active lifestyle apparel, footwear, accessories, and equipment. It operates through the following geographical segments: the United States; Latin America and Asia Pacific; Europe, Middle East, and Africa; and Canada.
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