Columbia Sportswear (NASDAQ:COLM) Updates FY 2024 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.700-4.050 for the period, compared to the consensus earnings per share estimate of 3.820. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Columbia Sportswear also updated its FY24 guidance to $3.70-$4.05 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COLM. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Columbia Sportswear in a research report on Thursday, July 18th. Stifel Nicolaus raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $84.00 to $92.00 in a research note on Monday, July 8th. Finally, StockNews.com raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.00.

Columbia Sportswear Stock Down 0.1 %

Shares of Columbia Sportswear stock traded down $0.12 on Friday, hitting $80.35. 852,835 shares of the company were exchanged, compared to its average volume of 462,096. Columbia Sportswear has a 1-year low of $73.04 and a 1-year high of $87.23. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.92. The company has a 50-day moving average price of $80.95 and a 200 day moving average price of $80.80.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. The business had revenue of $931.80 million during the quarter, compared to analysts’ expectations of $937.17 million. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.31%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 EPS. Research analysts forecast that Columbia Sportswear will post 3.8 EPS for the current year.

Columbia Sportswear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, November 20th. Columbia Sportswear’s payout ratio is 33.15%.

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.