Columbia Sportswear (NASDAQ:COLM) Releases Earnings Results, Beats Expectations By $0.20 EPS

by · The Markets Daily

Columbia Sportswear (NASDAQ:COLM – Get Free Report) posted its quarterly earnings data on Wednesday. The textile maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.20, Briefing.com reports. The business had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. Columbia Sportswear had a net margin of 6.72% and a return on equity of 13.01%. Columbia Sportswear’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS. Columbia Sportswear updated its FY24 guidance to $3.70-$4.05 EPS and its FY 2024 guidance to 3.700-4.050 EPS.

Columbia Sportswear Stock Performance

Shares of COLM traded up $4.10 during trading hours on Thursday, reaching $80.31. 565,303 shares of the company traded hands, compared to its average volume of 456,292. The stock’s fifty day moving average is $81.04 and its 200 day moving average is $80.76. Columbia Sportswear has a 1-year low of $71.21 and a 1-year high of $87.23. The stock has a market cap of $4.75 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 3.00 and a beta of 0.92.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. StockNews.com downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their price target for the stock from $84.00 to $92.00 in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.00.

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Columbia Sportswear Company Profile

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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.

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