Columbia sportswear

Columbia Sportswear (NASDAQ:COLM) Updates Fourth Quarter 2022 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM – Get Rating) released an update to its earnings guidance for the fourth quarter of 2022 Thursday morning. The company provided earnings per share (EPS) guidance of $2.07 at 2.07. $47 for the period, compared to the consensus estimate of $2.35. The company released a revenue forecast of $1.14 billion to $1.21 billion, versus a consensus revenue estimate of $1.17 billion.

Columbia Sportswear is trading down 1.6%

COLM stock opened at $73.52 on Thursday. The company has a market capitalization of $4.62 billion, a PE ratio of 13.79, a PEG ratio of 1.69 and a beta of 0.88. Columbia Sportswear has a 1-year minimum of $65.02 and a 1-year maximum of $107.50. The company’s 50-day simple moving average is $72.16 and its 200-day simple moving average is $75.08.

Columbia Sportswear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1. Investors of record on Thursday, November 17 will receive a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, November 16. Columbia Sportswear’s payout ratio is currently 22.51%.

A Wall Street analyst gives his opinion

COLM has been the subject of a number of research reports. UBS Group lowered its price target on Columbia Sportswear from $83.00 to $80.00 and set a neutral rating on the stock in a Thursday, July 28 report. Cowen raised its price target on Columbia Sportswear to $89.00 in a report on Tuesday. Cowen raised its price target on Columbia Sportswear from $85.00 to $86.00 and gave the company an outperform rating in a Tuesday, September 27 report. StockNews.com began covering Columbia Sportswear in a report on Wednesday, October 12. They issued a hold note on the stock. Finally, Citigroup reduced its target price on Columbia Sportswear from $98.00 to $80.00 in a Thursday, July 28 research report. One research analyst has assigned the stock a sell rating, five have assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $86.88.

Insider buying and selling

In other Columbia Sportswear news, Chief Financial Officer Jim A. Swanson acquired 500 shares of the company in a transaction that took place on Monday, August 29. The shares were acquired at an average cost of $72.99 per share, for a total transaction of $36,495.00. Following the transaction, the CFO now directly owns 5,197 shares of the company, valued at $379,329.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. 42.37% of the shares are held by company insiders.

Hedge funds weigh on Columbia Sportswear

Several large investors have recently bought and sold shares of the company. Raymond James & Associates increased its stake in shares of Columbia Sportswear by 23.4% in the first quarter. Raymond James & Associates now owns 18,898 shares of the textile maker valued at $1,711,000 after buying 3,588 additional shares during the period. US Bancorp DE increased its stake in shares of Columbia Sportswear by 19.8% in the first quarter. US Bancorp DE now owns 823 shares of the textile maker valued at $75,000 after buying an additional 136 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Columbia Sportswear by 14.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,112 shares of the textile maker valued at $192,000 after purchasing an additional 264 shares during the period. MetLife Investment Management LLC increased its stake in shares of Columbia Sportswear by 34.6% in the first quarter. MetLife Investment Management LLC now owns 22,554 shares of the textile maker valued at $2,042,000 after purchasing an additional 5,803 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Columbia Sportswear by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,668 shares of the textile maker valued at $1,147,000 after buying 1,208 additional shares during the period. 48.56% of the shares are currently held by institutional investors.

Columbia Sportswear Company Profile

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Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia-Pacific, Europe, the Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.

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Earnings history and estimates for Columbia Sportswear (NASDAQ:COLM)

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