$745.91 Million in Sales Expected for Columbia Sportswear Company (COLM) This Quarter
Brokerages expect Columbia Sportswear Company (NASDAQ:COLM) to report sales of $745.91 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Columbia Sportswear’s earnings, with estimates ranging from $733.80 million to $784.14 million. Columbia Sportswear posted sales of $745.71 million during the same quarter last year, which would indicate a positive year over year growth rate of 0%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Columbia Sportswear will report full year sales of $745.91 million for the current year, with estimates ranging from $2.44 billion to $2.47 billion. For the next year, analysts expect that the business will report sales of $2.57 billion per share, with estimates ranging from $2.56 billion to $2.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, July 27th. The textile maker reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. Columbia Sportswear had a return on equity of 12.31% and a net margin of 8.01%. The firm had revenue of $398.90 million for the quarter, compared to the consensus estimate of $394.53 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis.
A number of equities research analysts recently commented on COLM shares. Cowen and Company set a $58.00 price target on Columbia Sportswear and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) lowered Columbia Sportswear from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Buckingham Research reiterated a “neutral” rating and issued a $58.00 price objective on shares of Columbia Sportswear in a research report on Monday, July 17th. Finally, Canaccord Genuity reiterated a “neutral” rating on shares of Columbia Sportswear in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Columbia Sportswear presently has a consensus rating of “Hold” and an average target price of $63.83.
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In other Columbia Sportswear news, Director Edward S. George sold 6,664 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $56.90, for a total transaction of $379,181.60. Following the completion of the transaction, the director now owns 8,664 shares in the company, valued at approximately $492,981.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 58.86% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Columbia Sportswear during the 1st quarter worth about $114,000. Ameritas Investment Partners Inc. bought a new position in Columbia Sportswear during the 1st quarter worth about $137,000. NINE MASTS CAPITAL Ltd bought a new position in Columbia Sportswear during the 1st quarter worth about $153,000. Creative Planning increased its holdings in Columbia Sportswear by 2.6% during the 2nd quarter. Creative Planning now owns 2,826 shares of the textile maker’s stock worth $164,000 after purchasing an additional 72 shares in the last quarter. Finally, Advisor Group Inc. increased its holdings in Columbia Sportswear by 11.2% during the 2nd quarter. Advisor Group Inc. now owns 3,364 shares of the textile maker’s stock worth $195,000 after purchasing an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 39.03% of the company’s stock.
Shares of Columbia Sportswear (NASDAQ:COLM) opened at 59.04 on Friday. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $63.55. The stock has a 50 day moving average price of $58.20 and a 200-day moving average price of $57.04. The company has a market cap of $4.12 billion, a P/E ratio of 21.52 and a beta of 0.81.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.22%. The ex-dividend date was Tuesday, August 15th. Columbia Sportswear’s payout ratio is presently 26.47%.
About Columbia Sportswear
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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