$734.92 Million in Sales Expected for Columbia Sportswear Company (COLM) This Quarter
Analysts forecast that Columbia Sportswear Company (NASDAQ:COLM) will report $734.92 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Columbia Sportswear’s earnings. The highest sales estimate is $754.70 million and the lowest is $707.26 million. Columbia Sportswear posted sales of $745.71 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, October 26th.
According to Zacks, analysts expect that Columbia Sportswear will report full year sales of $734.92 million for the current financial year, with estimates ranging from $2.42 billion to $2.45 billion. For the next year, analysts anticipate that the firm will post sales of $2.57 billion per share, with estimates ranging from $2.54 billion to $2.62 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Columbia Sportswear.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Thursday, July 27th. The textile maker reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Columbia Sportswear had a negative return on equity of 2.97% and a negative net margin of 2.84%. The company had revenue of $398.90 million during the quarter, compared to analysts’ expectations of $394.53 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. Columbia Sportswear’s revenue was up 2.6% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price objective on shares of Columbia Sportswear in a research report on Sunday. Zacks Investment Research upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus reiterated a “hold” rating and issued a $60.00 price objective on shares of Columbia Sportswear in a research report on Wednesday, October 4th. Pivotal Research began coverage on Columbia Sportswear in a research report on Thursday, October 5th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Canaccord Genuity set a $60.00 price target on Columbia Sportswear and gave the company a “hold” rating in a research report on Tuesday, July 25th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Columbia Sportswear currently has a consensus rating of “Buy” and a consensus price target of $63.92.
Columbia Sportswear (NASDAQ COLM) opened at 62.45 on Tuesday. Columbia Sportswear has a 12-month low of $51.56 and a 12-month high of $63.65. The firm has a market cap of $4.36 billion, a PE ratio of 22.77 and a beta of 0.82. The stock’s 50 day moving average price is $60.00 and its 200-day moving average price is $57.72.
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In other Columbia Sportswear news, Director Edward S. George sold 6,664 shares of the firm’s 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 sale, the director now owns 8,664 shares in the company, valued at $492,981.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 58.86% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. grew its stake in shares of Columbia Sportswear by 53.3% during the first quarter. UBS Asset Management Americas Inc. now owns 12,172 shares of the textile maker’s stock valued at $715,000 after buying an additional 4,232 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Columbia Sportswear during the first quarter valued at about $413,000. Prudential Financial Inc. grew its stake in shares of Columbia Sportswear by 6.6% during the first quarter. Prudential Financial Inc. now owns 4,868 shares of the textile maker’s stock valued at $286,000 after buying an additional 300 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Columbia Sportswear by 4.7% during the first quarter. Stifel Financial Corp now owns 3,960 shares of the textile maker’s stock valued at $233,000 after buying an additional 176 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Columbia Sportswear during the first quarter valued at about $114,000. Institutional investors and hedge funds own 38.65% of the company’s stock.
Columbia Sportswear Company Profile
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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