Columbia Sportswear (NASDAQ:COLM – Get a rating) released an update to its fiscal 2022 earnings guidance Monday morning. The company provided EPS guidance of $5.70 to $6.00 for the period, compared to the consensus estimate of EPS of $5.75. The company released a revenue forecast of $3.63 billion to $3.69 billion, versus a consensus revenue estimate of $3.67 billion.
Shares of NASDAQ:COLM opened at $75.84 on Tuesday. The stock 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 1-year low of $74.49 and a 1-year high of $108.47. The company has a fifty-day moving average price of $88.19 and a 200-day moving average price of $94.09.
Columbia Sportswear (NASDAQ:COLM – Get a 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, compared to analyst estimates of $762.88 million. Columbia Sportswear had a net margin of 11.19% and a return on equity of 19.34%. The company’s revenue increased 21.7% year over year. In the same quarter of the previous year, the company achieved EPS of $0.84. On average, stock analysts expect Columbia Sportswear to post earnings per share of 5.85 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2. Shareholders of record on Thursday, May 19 will receive a dividend of $0.30. The ex-dividend date is Wednesday, May 18. This represents an annualized dividend of $1.20 and a dividend yield of 1.58%. Columbia Sportswear’s payout ratio is 21.62%.
Several equity research analysts have recently released reports on the stock. Zacks Investment Research downgraded shares of Columbia Sportswear from a buy rating to a hold rating and set a price target of $92.00 for the stock. in a research note from Tuesday, April 12. Bank of America downgraded shares of 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 Friday research note April 29. Robert W. Baird lowered his price target on shares of Columbia Sportswear from $110.00 to $100.00 in a Friday, April 29 research note. CL King upgraded shares of Columbia Sportswear to a Buy rating and set a price target of $117.00 on the stock in a Friday, Feb. 4 research note. Finally, TheStreet downgraded shares of Columbia Sportswear from an ab to a c+ rating in a Thursday, April 28 research note. One research analyst rated the stock with a sell rating, six issued a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, Columbia Sportswear currently has a consensus rating of Hold and a consensus price target of $104.57.
Separately, director Ronald E. Nelson sold 3,706 shares of the company in a transaction dated Thursday, May 5. The stock was sold at an average price of $80.16, for a total transaction of $297,072.96. Following completion of the transaction, the administrator now directly owns 14,402 shares of the company, valued at approximately $1,154,464.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Stephen E. Babson sold 2,568 shares of the company in a trade that took place on Tuesday, May 3. The shares were sold at an average price of $81.14, for a total value of $208,367.52. Following completion of the transaction, the director now owns 112,627 shares of the company, valued at $9,138,554.78. Disclosure of this sale can be found here. Insiders hold 40.33% of the shares of the company.
Several institutional investors and hedge funds have recently changed their holdings in COLM. Morgan Stanley increased its position in Columbia Sportswear shares by 106.0% in the second quarter. Morgan Stanley now owns 130,478 shares of the textile maker valued at $12,834,000 after buying an additional 67,154 shares during the period. Goldman Sachs Group Inc. increased its position in Columbia Sportswear shares by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 147,522 shares of the textile maker valued at $14,375,000 after buying an additional 5,345 shares during the period. LPL Financial LLC increased its position in Columbia Sportswear shares by 12.8% in the fourth quarter. LPL Financial LLC now owns 6,010 shares of the textile maker valued at $588,000 after purchasing an additional 680 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in shares of Columbia Sportswear in Q4 valued at around $283,000. Finally, Legal & General Group Plc increased its position in Columbia Sportswear shares by 1.1% in the 4th quarter. Legal & General Group Plc now owns 51,537 shares of the textile maker valued at $5,022,000 after buying an additional 576 shares during the period. Institutional investors and hedge funds own 48.65% of the company’s shares.
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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