Brokerages expect Columbia Sportswear (NASDAQ:COLM) to announce $583.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Columbia Sportswear’s earnings, with the highest sales estimate coming in at $599.00 million and the lowest estimate coming in at $563.90 million. Columbia Sportswear posted sales of $568.23 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The firm is expected to announce its next earnings report after the market closes on Thursday, April 29th.
According to Zacks, analysts expect that Columbia Sportswear will report full year sales of $3.01 billion for the current financial year, with estimates ranging from $2.98 billion to $3.04 billion. For the next year, analysts expect that the company will post sales of $3.29 billion, with estimates ranging from $3.19 billion to $3.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, February 4th. The textile maker reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.23. Columbia Sportswear had a net margin of 4.97% and a return on equity of 7.30%. The business had revenue of $915.62 million during the quarter, compared to analyst estimates of $866.40 million.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Columbia Sportswear from a “sell” rating to a “hold” rating and set a $108.00 price objective on the stock in a research note on Tuesday, February 9th. Bank of America upgraded shares of Columbia Sportswear from a “neutral” rating to a “buy” rating and upped their price target for the company from $108.00 to $128.00 in a research note on Monday, March 29th. TheStreet upgraded shares of Columbia Sportswear from a “c+” rating to a “b-” rating in a research note on Thursday, February 4th. Cowen boosted their price objective on shares of Columbia Sportswear from $116.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 9th. Finally, Robert W. Baird reissued a “buy” rating on shares of Columbia Sportswear in a report on Sunday, February 21st. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $106.10.
Shares of Columbia Sportswear stock traded up $2.05 during trading on Tuesday, hitting $110.76. 491,381 shares of the stock were exchanged, compared to its average volume of 361,259. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 60.20, a price-to-earnings-growth ratio of 8.42 and a beta of 0.72. The company has a fifty day moving average price of $105.35 and a 200-day moving average price of $93.69. Columbia Sportswear has a 1-year low of $57.16 and a 1-year high of $112.40.
Columbia Sportswear declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 4th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the textile maker to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 22nd. Investors of record on Tuesday, March 9th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, March 8th. Columbia Sportswear’s payout ratio is 22.03%.
In other Columbia Sportswear news, Director Walter Klenz sold 7,706 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $102.28, for a total value of $788,169.68. Following the completion of the transaction, the director now directly owns 8,821 shares in the company, valued at approximately $902,211.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Sarah Bany sold 74,037 shares of the stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $104.04, for a total transaction of $7,702,809.48. Following the sale, the insider now owns 1,154,136 shares of the company’s stock, valued at $120,076,309.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 302,666 shares of company stock valued at $30,967,992. Corporate insiders own 41.15% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Columbia Sportswear by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 281,579 shares of the textile maker’s stock worth $24,605,000 after buying an additional 6,553 shares during the period. Comerica Bank boosted its stake in Columbia Sportswear by 6.5% during the fourth quarter. Comerica Bank now owns 31,998 shares of the textile maker’s stock worth $2,952,000 after acquiring an additional 1,961 shares in the last quarter. Captrust Financial Advisors boosted its stake in Columbia Sportswear by 36.0% during the fourth quarter. Captrust Financial Advisors now owns 8,635 shares of the textile maker’s stock worth $755,000 after acquiring an additional 2,288 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Columbia Sportswear by 1,581.3% during the fourth quarter. Victory Capital Management Inc. now owns 578,732 shares of the textile maker’s stock worth $50,569,000 after acquiring an additional 544,311 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Columbia Sportswear in the fourth quarter valued at $35,000. Institutional investors own 40.64% of the company’s stock.
Columbia Sportswear Company Profile
Columbia Sportswear Company, together with its subsidiaries, designs, sources, 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 that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.
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