Brokerages predict that Columbia Sportswear (NASDAQ:COLM) will post $790.33 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Columbia Sportswear’s earnings. The lowest sales estimate is $788.20 million and the highest is $792.90 million. Columbia Sportswear posted sales of $747.37 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The company is expected to issue its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Columbia Sportswear will report full-year sales of $2.70 billion for the current financial year, with estimates ranging from $2.68 billion to $2.72 billion. For the next financial year, analysts expect that the business will report sales of $2.86 billion per share, with estimates ranging from $2.81 billion to $2.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 26th. The textile maker reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.26. The firm had revenue of $481.62 million during the quarter, compared to analysts’ expectations of $453.27 million. Columbia Sportswear had a net margin of 5.19% and a return on equity of 14.79%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share.
Several research firms have recently issued reports on COLM. B. Riley upped their price objective on Columbia Sportswear from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, April 27th. Wedbush upped their price objective on Columbia Sportswear from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, April 27th. Buckingham Research upped their price objective on Columbia Sportswear from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday. DA Davidson downgraded Columbia Sportswear from a “buy” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research note on Monday, July 16th. Finally, CL King downgraded Columbia Sportswear to a “hold” rating in a research note on Friday, April 27th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $87.44.
Shares of COLM stock traded up $0.36 on Friday, reaching $91.23. The company had a trading volume of 7,857 shares, compared to its average volume of 305,511. The stock has a market capitalization of $6.31 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. Columbia Sportswear has a one year low of $54.89 and a one year high of $95.58.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Thursday, August 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, August 15th. Columbia Sportswear’s dividend payout ratio is presently 29.53%.
Columbia Sportswear announced that its board has authorized a share repurchase plan on Monday, August 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Columbia Sportswear news, Director Edward S. George sold 5,030 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $91.30, for a total transaction of $459,239.00. Following the completion of the sale, the director now owns 7,030 shares of the company’s stock, valued at approximately $641,839. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas H. Morse sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $91.00, for a total transaction of $136,500.00. Following the sale, the senior vice president now directly owns 2,648 shares of the company’s stock, valued at approximately $240,968. The disclosure for this sale can be found here. Insiders have sold a total of 18,535 shares of company stock valued at $1,665,264 in the last three months. Insiders own 56.68% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P grew its position in shares of Columbia Sportswear by 1.3% during the 2nd quarter. Martingale Asset Management L P now owns 50,836 shares of the textile maker’s stock worth $4,650,000 after buying an additional 630 shares during the period. Stifel Financial Corp grew its position in shares of Columbia Sportswear by 19.2% during the 1st quarter. Stifel Financial Corp now owns 4,340 shares of the textile maker’s stock worth $331,000 after buying an additional 698 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of Columbia Sportswear by 23.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,658 shares of the textile maker’s stock worth $335,000 after buying an additional 700 shares during the period. Aperio Group LLC grew its position in shares of Columbia Sportswear by 7.7% during the 2nd quarter. Aperio Group LLC now owns 10,236 shares of the textile maker’s stock worth $936,000 after buying an additional 735 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Columbia Sportswear by 4.2% during the 1st quarter. Guggenheim Capital LLC now owns 19,031 shares of the textile maker’s stock worth $1,454,000 after buying an additional 773 shares during the period. 39.56% of the stock is owned by institutional investors and hedge funds.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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