Columbia Sportswear (NASDAQ:COLM) Updates FY 2024 Earnings Guidance

Columbia Sportswear (NASDAQ:COLM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.700-4.050 for the period, compared to the consensus earnings per share estimate of 3.820. The company issued revenue guidance of $3.3 billion-$3.4 billion, compared to the consensus revenue estimate of $3.4 billion. Columbia Sportswear also updated its FY24 guidance to $3.70-$4.05 EPS.

Columbia Sportswear Stock Performance

Shares of NASDAQ COLM traded up $0.09 during midday trading on Wednesday, reaching $76.21. 882,721 shares of the company’s stock were exchanged, compared to its average volume of 455,773. Columbia Sportswear has a 52-week low of $71.21 and a 52-week high of $87.23. The stock has a market capitalization of $4.51 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 3.00 and a beta of 0.92. The business’s fifty day moving average price is $81.15 and its two-hundred day moving average price is $80.80.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COLM shares. StockNews.com lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and boosted their price objective for the company from $84.00 to $92.00 in a report on Monday, July 8th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Columbia Sportswear in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.00.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, 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 for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.