Columbia Sportswear (NASDAQ:COLM – Get a rating) – Seaport Res Ptn research analysts cut their third-quarter 2022 earnings per share (EPS) estimates for Columbia Sportswear shares in a research report released Thursday, July 28. Seaport Res Ptn analyst Mr Kummetz now expects the textile maker to post earnings of $1.67 per share for the quarter, down from its previous forecast of $2.28. The consensus estimate for Columbia Sportswear’s current annual earnings is $5.83 per share. Seaport Res Ptn also released estimates for Columbia Sportswear’s fiscal year 2022 earnings at $5.20 EPS, fiscal year 2023 earnings at $6.48 EPS and fiscal year 2024 earnings at $7. EPS $04.
Columbia Sportswear (NASDAQ:COLM – Get a rating) last reported results on Wednesday, July 27. The textile maker reported EPS of $0.11 for the quarter, beating the consensus estimate of $0.04 by $0.07. The company posted revenue of $578.06 million for the quarter, versus $592.35 million expected by analysts. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. The company’s quarterly revenue increased 2.1% from the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.61.
Other research analysts have also published research reports on the company. Cowen lowered his price target on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research report. TheStreet lowered Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 report. Robert W. Baird lowered his target price on Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating on the stock in a report Thursday. Cowen lowered his target price on Columbia Sportswear to $95.00 in a Monday, July 25 report. Finally, 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 report on Thursday. One research analyst rated the stock with a sell rating, four gave the stock a hold rating, and four gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.38.
Columbia Sportswear Inventory Performance
NASDAQ COLM opened at $74.01 on Monday. The stock has a market capitalization of $4.65 billion, a price/earnings ratio of 13.34, a PEG ratio of 1.47 and a beta of 0.91. The stock’s 50-day moving average price is $74.59 and its two-hundred-day moving average price is $83.88. Columbia Sportswear has a 52-week low of $68.29 and a 52-week high of $107.50.
Hedge funds weigh on Columbia Sportswear
A number of hedge funds have recently bought and sold shares of the company. The New York State Teachers Retirement System increased its stake in Columbia Sportswear by 251.4% in the fourth quarter. The New York State Teachers’ Retirement System now owns 7,945 shares of the textile maker valued at $774,000 after acquiring an additional 5,684 shares during the period. NN Investment Partners Holdings NV purchased a new stake in Columbia Sportswear in Q4, valued at approximately $1,404,000. Allspring Global Investments Holdings LLC purchased a new stake in Columbia Sportswear in Q4, valued at approximately $43,000. New Jersey State Joint Pension Fund D increased its stake in Columbia Sportswear by 2.8% in the 4th quarter. New Jersey State Joint Pension Fund D now owns 27,197 shares of the textile maker valued at $2,650,000 after acquiring an additional 752 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in Columbia Sportswear by 33.7% in the 4th quarter. The Illinois Municipal Retirement Fund now owns 14,174 shares of the textile maker valued at $1,381,000 after acquiring 3,575 additional shares during the period. 48.65% of the shares are held by hedge funds and other institutional investors.
Insiders place their bets
In other news, Director Ronald E.Nelson sold 3,706 shares of Columbia Sportswear in a trade on Thursday, May 5. The shares were sold at an average price of $80.16, for a total value of $297,072.96. Following the completion of the sale, the administrator now 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 this hyperlink. 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 transaction of $297,072.96. Following the completion of the sale, the administrator now owns 14,402 shares of the company, valued at approximately $1,154,464.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Also, director Stephen E. Babson sold 2,568 shares of the company in a trade on Tuesday, May 3. The shares were sold at an average price of $81.14, for a total transaction of $208,367.52. Following the sale, the director now owns 112,627 shares of the company, valued at approximately $9,138,554.78. Disclosure of this sale can be found here. Insiders of the company own 42.37% of the shares of the company.
Columbia Sportswear Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31. Investors of record on Wednesday August 17 will receive a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 16. This represents an annualized dividend of $1.20 and a yield of 1.62%. Columbia Sportswear’s dividend payout ratio is currently 21.62%.
Columbia Sportswear Company Profile
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.
Get news and reviews for Columbia Sportswear Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Columbia Sportswear and related companies with MarketBeat.com’s free daily email newsletter.