Columbia Sportswear (NASDAQ:COLM) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Columbia Sportswear (NASDAQ:COLM) released its earnings results on Wednesday. The textile maker reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20, Briefing.com reports. The business had revenue of $931.80 million during the quarter, compared to the consensus estimate of $937.17 million. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the business posted $1.70 earnings per share. Columbia Sportswear updated its FY24 guidance to $3.70-$4.05 EPS and its FY 2024 guidance to 3.700-4.050 EPS.

Columbia Sportswear Price Performance

NASDAQ:COLM traded up $3.72 during trading hours on Thursday, hitting $79.93. The company had a trading volume of 709,121 shares, compared to its average volume of 456,974. Columbia Sportswear has a 52 week low of $71.21 and a 52 week high of $87.23. The company has a market capitalization of $4.73 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 3.00 and a beta of 0.92. The stock has a 50-day moving average price of $81.04 and a 200 day moving average price of $80.76.

Analysts Set New Price Targets

COLM has been the topic of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. StockNews.com downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $84.00 to $92.00 in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.00.

About Columbia Sportswear

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.