Wall Street analysts expect Columbia Sportswear (NASDAQ:COLM – Get Rating) to post sales of $595.13 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts released earnings estimates for Columbia Sportswear, with the highest sales estimate at $597.90 million and the lowest estimate at $591.80 million. Columbia Sportswear reported sales of $566.37 million in the same quarter last year, indicating a positive year-over-year growth rate of 5.1%. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Columbia Sportswear to post annual sales of $3.67 billion for the current fiscal year, with estimates ranging from $3.63 billion to $3.69 billion. For the next fiscal year, analysts expect the company to report sales of $3.89 billion, with estimates ranging from $3.83 billion to $3.98 billion. Zacks sales averages are an average average based on a survey of research companies that track Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its results on Thursday, April 28. The textile maker reported earnings per share of $1.03 for the quarter, beating analysts’ consensus estimate of $0.85 by $0.18. The company posted revenue of $761.50 million in the quarter, versus a consensus estimate of $762.88 million. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. The company’s revenue for the quarter increased 21.7% compared to the same quarter last year. In the same period a year earlier, the company posted earnings of $0.84 per share.
A number of brokerages have weighed in on COLM recently. Bank of America downgraded Columbia Sportswear from a “neutral” to an “underperforming” rating and lowered its price target for the stock from $108.00 to $80.00 in a research note from the Friday, April 29. Robert W. Baird cut his price target on Columbia Sportswear stock from $110.00 to $100.00 in a Friday, April 29 report. Cowen raised his price target on shares of Columbia Sportswear from $110.00 to $116.00 and gave the stock an “outperform” rating in a Wednesday, Feb. 9 research note. Zacks Investment Research downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating and set a target price of $92.00 for the stock. in a research note from Tuesday, April 12. Finally, CL King upgraded Columbia Sportswear to a “buy” rating and set a target price of $117.00 for the company in a Friday, February 4 report. One equity research analyst has assigned the stock a sell rating, six have issued a hold rating and three have assigned the stock a buy rating. 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 company in a trade Thursday, May 5. The shares were sold at an average price of $80.16, for a total value of $297,072.96. As a result of the sale, the administrator now directly owns 14,402 shares of the company, valued at approximately $1,154,464.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Stephen E. Babson sold 2,568 shares of the company in a trade dated Tuesday, May 3. The stock was sold at an average price of $81.14, for a total transaction of $208,367.52. Following the transaction, the administrator now owns 112,627 shares of the company, valued at approximately $9,138,554.78. The disclosure of this sale can be found here. 40.33% of the shares are held by insiders.
Several hedge funds and other institutional investors have recently changed their holdings in COLM. First Manhattan Co. increased its stake in Columbia Sportswear by 304.9% during the third quarter. First Manhattan Co. now owns 332 shares of the textile maker worth $31,000 after buying an additional 250 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Columbia Sportswear in Q1 worth approximately $31,000. Bedel Financial Consulting Inc. increased its position in Columbia Sportswear shares by 300.0% during the 4th quarter. Bedel Financial Consulting Inc. now owns 400 shares of the textile maker worth $39,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Columbia Sportswear in Q4 valued at $43,000. Finally, Northwestern Mutual Wealth Management Co. increased 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 valued at $65,000 after acquiring 501 additional shares during the period. Institutional investors and hedge funds own 48.65% of the company’s shares.
COLM stock opened at $75.84 on Tuesday. The company has a market capitalization 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 company has a 50-day simple moving average of $88.19 and a 200-day simple moving average of $94.09.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2. Investors of record on Thursday, May 19 will receive a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a dividend yield of 1.58%. The ex-dividend date is Wednesday, May 18. Columbia Sportswear’s dividend payout ratio is currently 21.62%.
About Columbia Sportswear (Get a rating)
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, 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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