Columbia Sportswear to Post Fiscal 2024 Earnings of $6.98 Per Share, Seaport Res Ptn (NASDAQ:COLM) Forecasts

Columbia Sportswear (NASDAQ:COLM – Get a rating) – Stock analysts at Seaport Res Ptn raised their fiscal year 2024 earnings estimates for Columbia Sportswear in a research note released Thursday, March 3. Seaport Res Ptn analyst Mr Kummetz now expects the textile maker to earn $6.98 per share for the year, up from its previous estimate of $6.71. Seaport Res Ptn currently has a “Buy” rating on the title. Columbia Sportswear (NASDAQ:COLM – Get a rating) last reported results on Thursday, February 3. The textile maker reported earnings per share (EPS) of $2.39 for the quarter, beating Thomson Reuters consensus estimate of $1.79 by $0.60. Columbia Sportswear had a return on equity of 18.64% and a net margin of 11.33%. During the same period last year, the company earned earnings per share of $1.44.

Several other analysts have also recently weighed in on COLM. CL King upgraded Columbia Sportswear to a “buy” rating and set a price target of $117.00 for the company in a research report on Friday, February 4. Wolfe Research downgraded Columbia Sportswear to a “neutral” rating in a report on Tuesday, January 4. Stifel Nicolaus downgraded Columbia Sportswear from a “buy” rating to a “hold” rating and lowered his target price for the company from $126.00 to $111.00 in a Thursday, Dec. 16 report. Robert W. Baird downgraded Columbia Sportswear from an “outperforming” rating to a “neutral” rating and lowered his target price for the company from $130.00 to $107.00 in a Tuesday, January 4, report. Ultimately, Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “strong-buy” rating and set a target price of $110.00 for the company in a Tuesday, February 15 report. Five research analysts gave the stock a hold rating, three gave the company a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $112.14.

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Shares of COLM opened at $93.08 on Friday. Columbia Sportswear has a fifty-two week low of $87.03 and a fifty-two week high of $114.98. The stock has a 50-day moving average price of $93.85 and a two-hundred-day moving average price of $98.06. The company has a market capitalization of $6.00 billion, a P/E ratio of 17.37, a PEG ratio of 1.79 and a beta of 0.90.

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Columbia Sportswear by 40.4% in the third quarter. Russell Investments Group Ltd. now owns 120,794 shares of the textile maker worth $11,634,000 after buying an additional 34,764 shares last quarter. Morgan Stanley increased its stake in Columbia Sportswear by 106.0% in the second quarter. Morgan Stanley now owns 130,478 shares of the textile maker worth $12,834,000 after buying an additional 67,154 shares last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Columbia Sportswear by 10.3% in the third quarter. The Manufacturers Life Insurance Company now owns 236,686 shares of the textile maker worth $22,684,000 after acquiring 22,167 additional shares in the last quarter. The Louisiana State Employees Retirement System increased its stake in shares of Columbia Sportswear by 12.7% in the third quarter. The Louisiana State Employees Retirement System now owns 8,900 shares of the textile maker worth $853,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Columbia Sportswear shares by 16.5% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 12,427 shares of the textile maker worth $1,191,000 after acquiring 1,762 additional shares in the last quarter. Institutional investors and hedge funds own 53.95% of the company’s shares.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 21. Shareholders of record on Friday, March 11 will receive a dividend of $0.30. This is an increase from Columbia Sportswear’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, March 10. This represents a dividend of $1.20 on an annualized basis and a yield of 1.29%. Columbia Sportswear’s dividend payout ratio is 19.40%.

About Columbia Sportswear (Get a rating)

Columbia Sportswear Co engages in the design, supply, marketing and distribution of outdoor and active lifestyle apparel, footwear, accessories and equipment. It operates through the following geographic segments: United States; Latin America and Asia-Pacific; Europe, Middle East and Africa; and Canada.

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